Mergermarket

📣 Your essential M&A update is here! Discover our 1H24 Highlights report now: https://lnkd.in/e5ZpDunp   Global M&A volume grew 17% YoY to USD 1.6trn in the first half of 2024, driven by a resurgence in activity in North America. Corporate buyers have reclaimed the spotlight, accounting for 73% of the deal volume—a return to pre-pandemic levels. Notably, seven of the top 10 deals involved strategic buyers from traditional industries:   🏦 Financial Services: Capital One ⛽ Oil and Gas: Diamondback Energy & ConocoPhillips 🛒 Retail: Home Depot 💊 Pharmaceuticals: Novo 💻 Software: Synopsys (the only tech deal in the top 10)   Explore these insights and more in our full report!

Japanese conglomerate Mitsui is the frontrunner in an auction for 40% of Philippines-based Terra Solar, according to three sources familiar. Mitsui, through its local unit Mit-Renewables Philippine Corporation, has a joint venture with Meralco’s renewables arm MGen Renewable Energy (MGreen) – which holds 55.96% of SP New Energy Group – which owns Terra Solar. The second round of bids is due in August: https://lnkd.in/gFuXnN5W

Don’t miss out on the best rates for the Mergermarket M&A Forum Australia (https://lnkd.in/gF-Pqze4), ending this Friday, 26 July! Secure your spot now to explore the latest trends, uncover opportunities, and address the challenges in the Australian M&A landscape. With the market poised for a cautious comeback, driven by transformative #deals and increased activity in sectors like #technology and #energytransition, this is the perfect time to gain insights and make strategic connections. Join over 600 delegates, including 145 corporate investors, and seize this exclusive chance to network and connect with industry leaders from across the region. Book your ticket today (https://lnkd.in/gqiag38t)! #AusMergers #Australia #mergersandacquisition #corporates #investors #LP #alternativeinvestments

A growing number of large North American TMT transactions helped lift first-half volume above last year’s decade lows. Volume for TMT deals announced in 1H24 totaled USD 239.6bn, up 68% from the USD 142.6bn tallied in 1H23, Mergermarket data shows. The five largest TMT transactions of the first half were announced in the first two months of the year, including Synopsys’ USD 35bn acquisition of Ansys, and Hewlett Packard Enterprise’s USD 14bn buy of Juniper Networks: https://lnkd.in/gyn_KKS7

The last few years have seen large numbers of deals in the 3D printing space in EMEA as players have tried to build scale to confront the opportunity, with Israeli companies leading the charge. The most impressive year so far was 2021 as dealmakers struggled with fragile supply chains in the wake of the COVID-19 pandemic, according to Mergermarket data. There were 44 deals in 2021 with aggregate volumes of EUR 4.7bn, up sharply from EUR 1.2bn across 29 deals in 2020. In 2022, the number of deals and their disclosed value decreased to 34 transactions worth EUR 906m, but in 2023 the total jumped again to 29 deals worth EUR 1.24bn. More here: https://lnkd.in/gH6e2waR

Alphabet’s proposed USD 23bn acquisition of security startup Wiz will reset valuation expectations for the sector and provide a catalyst for more M&A, industry experts say. Snehal Antani, CEO of Silicon Valley cybersecurity startup https://lnkd.in/gAEi2A3J, predicts a near-term surge in Wiz-like competitors that will try to get themselves acquired citing the price premium Google has offered Wiz. More here: https://lnkd.in/gcv5zMTG

Expectations were high at the start of the year for Australia’s M&A market to stage a comeback after a muted 2023, but following lukewarm numbers in 1H24, dealmakers are now betting on the second half, or even next year, to be the real game. Australia recorded 411 deals in 1H24, its lowest half-year count for almost 20 years, while total deal volume of USD 34.5bn was at its lowest since 2H20, according to Mergermarket data. This year had a strong start, with a series of billion-dollar transactions in the building materials sector and take-private deals. The market then softened in the second quarter, before picking up in recent weeks. More here: https://lnkd.in/g82nSHb5

European lawyers are keen to start working with the continent’s startups and tech companies on their M&A strategies as early in the cycle as possible, experts said. The tech scene is a fruitful source of mandates. European tech deals began to boom in 2019, with 4,261 deals worth an aggregate EUR 133.6bn, according to Mergermarket data. Volumes fell a little in 2020 (EUR 114.8bn over 4,348 transactions) but hit a decade-long high in 2021 (EUR 188.7bn over 4,782 deals). The pace dropped in 2023, even though total deal volume is still high by historical standards (EUR 88.5bn over 3,346 deals). More here: https://lnkd.in/gdqQnbfG

Westminster Pet Products, a developer and marketer of pet treats and products, is in the later stages of a sale process via William Blair, according to three sources familiar with the matter: https://lnkd.in/gtBEn7Qz

The UK Financial Conduct Authority (FCA) is moving ahead with plans to reinvigorate IPOs in London. The new listing regime rules will emphasise disclosure more than box-ticking. Changes include removing mandatory shareholder votes on some deals, which will put responsibility on boards rather than needing a broad consensus among investors. Acquisitions by UK-listed companies (excluding listed private equity firms, club deals and fundraising rounds) hit a decade-long record of GBP 90.4bn (EUR 107.5bn) over 739 deals in 2016, according to Mergermarket data. More here: https://lnkd.in/gSDj6KYy