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U.S. M&A deal activity up 19.3%, Private Equity activity up 22.2% in June

Jul 22, 2015

Via FactSet Mergers staff

U.S. M&A News and Trends

U.S. M&A deal activity increased in June, going up 19.3% with 1099 announcements compared to 921 in May. However, aggregate M&A spending decreased. In June 7.3% less was spent on deals compared to May.

Over the past three months, the sectors that have seen the biggest increases in M&A deal activity, relative to the same three month period one year ago, have been:

  1. Technology Services (544 vs. 503)
  2. Finance (431 vs. 390)
  3. Distribution Services (155 vs. 133)
  4. Consumer Non-Durables (88 vs. 80)
  5. Transportation (65 vs. 58)
  6. Retail Trade (95 vs. 88)

Fifteen of the 21 sectors tracked by FactSet Mergerstat posted relative gains in deal flow over the last three months compared to the same three months one year prior.

Over the past three months, the sectors that have seen the biggest declines in M&A deal volume, relative to the same three month period one year ago have been:

  1. Producer Manufacturing (160 vs. 184)
  2. Utilities (36 vs. 56)
  3. Electronic Technology (127 vs. 146)
  4. Commercial Services (450 vs. 468)
  5. Consumer Durables (39 vs. 53)

Eleven of the 21 sectors tracked by FactSet Mergerstat posted negative relative losses in deal flow over the last three months compared to the same three months one year prior, for a combined loss of 136 deals.

Topping the list of the largest deals announced in June are:

  1. Energy Transfer Equity LP's proposal to acquire The Williams Cos., Inc. for $47.9 billion
  2. Anthem, Inc.'s proposal to acquire Cigna Corp. for $47.4 billion
  3. Intel Corp.'s agreement to acquire Altera Corp. for approximately $16.3 billion
  4. CPPIB Credit Investments, Inc., agreeing to acquire GE Antares Capital from General Electric Co., $12 billion
  5. Willis Group Holdings Plc's deal to merge with Towers Watson & Co. $8.7 billion

U.S. Private Equity News and Trends

U.S. private equity activity increased in June, up 22.9% from May. There were 118 deals in June compared to 96 in May. Aggregate base equity also increased, up by 269.0% to $35.1 billion from May's $9.5 billion.

U.K. firms were the biggest buyers of U.S. companies in June. They announced 31 deals for the month, with Canadian companies in second with 25 deals, followed by Japan, Germany, China, and France. The largest deal to purchase a U.S. business was the Canadian-based CPPIB Credit Investments, Inc., agreeing to acquire GE Antares Capital from General Electric Co. for $12 billion. U.K. firms were the biggest sellers to U.S. firms with 38 deals, followed by Canada, Germany, and Italy. The largest U.S. deal to acquire a foreign company was 3M Co. agreeing to acquire the U.K.-based Capital Safety Group Ltd. from Kohlberg Kravis Roberts & Co LP for $2.5 billion.

The top financial advisors for 2015 based on deal announcements, are Goldman Sachs & Co., Morgan Stanley, JPMorgan Chase & Co, Bank of America Merrill Lynch, and Houlihan Lokey. The top five financial advisors, based on the aggregate transaction value of the deals worked on, are JPMorgan Chase & Co, Goldman Sachs & Co., Morgan Stanley, Bank of America Merrill Lynch, and Credit Suisse.

The top legal advisors for 2015 based on deal announcements, are Kirkland & Ellis LLP, Jones Day LP, Skadden, Arps, Slate, Meagher & Flom LLP, Fenwick & West LLP, and Weil, Gotshal & Manges LLP. The top five legal advisors, based on the aggregate transaction value of the deals worked on, are Wachtell, Lipton, Rosen & Katz, Skadden, Arps, Slate, Meagher & Flom LLP, Sullivan & Cromwell LLP, Latham & Watkins LLP, and Cravath, and Swaine & Moore LLP.


FactSet Flashwire Monthly Report

Download the full report for more, including:

  • Key trend information for the Overall and Middle M&A Markets, such as deal volume, deal value, mega-deals, leading buyers, leading industries, leading sectors, cross-border deals, U.S. regional deals, average P/E, average premiums, payment methods, and much more
  • Report on U.S. Sector Activity and Value
  • Sector Spotlight
  • U.S. Strategic Buyer Report and U.S. Private Equity Report 
  • Top U.S. Financial and Legal Advisor Rankings 
  • Top U.S. Deals Scoreboard 

Download most recent FactSet U.S. Flashwire Monthly report.

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