
Deal Drivers EMEA Half-Year 2016
11 August 2016
Download Publications (4.41 MB)
- Transatlantic activity dipped in the first half of 2016, partly in anticipation of the UK referendum and November’s US presidential election. Inbound deals from North America into Europe fell to 297 deals during H1 2016, down 18% compared to H1 2015, while deal value also slumped by 27% to €46.8bn. The incumbent Obama administration also became more outspoken against tax inversion deals which made larger corporates more hesitant to look for tax domiciles in Europe. This had a particular effect on the pharma sector.
- Private equity firms have become increasingly cautious with fund allocation. Compared to H1 2015, PE buyout value was 33% lower (€38.6bn) despite an 8% rise (559) in deal volume in H1 2016.
- The prolonged depression in crude oil is expected to create opportunities within the Gulf economies. Most notably, Saudi Arabia recently moved to ease restrictions on foreign ownership.

Deal Drivers Americas Half-Year 2016
11 August 2016
Download Publications (5.43 MB)
- The value of deals in the Americas shrank significantly in H1 2016 versus a year ago, due in large part to the absence of so-called megadeals (deals worth over US$5bn). H1 2016 recorded only 23 such deals, a 28% drop in volume compared with the same period last year.
- Despite political and regulatory uncertainty, deal volumes in the Americas were encouraging when compared to activity from 2008 to 2013. Compared to H1 2013, deal volume rose by 17% in H1 2016, while value increased by 45%.
- The life sciences and healthcare sector provided the year’s top two deals with Shire’s US$35.3bn bid for Baxalta and Abbott Laboratories’ announcement that it would buy St. Jude Medical, valued for nearly US$30bn.

Aviation and Aerospace M&A Quarterly – Q2 2016
12 August 2016
Download Publications (988.26 KB)
- 3i Infrastructure and Deutsche Asset & Wealth Management acquire Belgian GSE leasing and services provider TCR International from Chequers Capital and Florac SAS for US$228m.
- TUI acquires Transat’s French and Greek units for US$62m.
- TransDigm Group buys ILC Industries, the parent company of Data Device Corporation, from private equity firm Behrman Capital for US$1bn.
- HNA Group acquires a 13% stake in Virgin Australia for US$114m, while China’s Nanshan Group buys a further 20% stake in the Australian carrier for US$198m

William Fry Mid-Year Irish M&A Review 2016
31 August 2016
Download Publications (653.89 KB)
- Sector watch: An interesting development this year has been the focus on the industrials and chemicals sector. The industry has had seven transactions in H1 2016 — 23% of total inbound deal volume — compared with just two in the first half of 2015. Deal value in the sector was heavily impacted by the Johnson deal, but removing this deal, value for the sector still saw a rise, standing at €480m in H1 2016, compared with €49m for 2015 as a whole.
- Private equity snapshot: PE activity has continued to grow in the first half of 2016 with volume increasing to 13 deals from 10 year-on-year. Deal value jumped 106% to €2bn.

Market Spotlight: Healthcare
01 September 2016
Download Publications (3.57 MB)

Investing in India’s growth story – Kroll Quarterly M&A Newsletter
08 September 2016
Download Publications (1.38 MB)
- In 2015, inbound M&A totaled 227 deals worth US$19.6bn. In the first half of 2016, 82 deals worth close to US$9bn were announced, putting the country on track for another banner year of inbound investment.
- India attracted 6% of all US outbound M&A transactions (deal volume) in 2015, surpassing the 2% of outbound M&A directed at China that year. So far in 2016, India has continued to attract US interest, with US$3.1bn through 27 deals compared to similar US investment in China at US$1.3bn and 13 deals.
- Technology, media and telecommunications companies accounted for 26% of deal value and 22% of deal volume since 2011 led by feverish interest in the country’s e-commerce market.
Oops! This page does not exist.
A page doesnt exist with this URL. Click the menu button and browse to where you meant to go.

Due Diligence Roadmap #2: Managing The Buy-Side
15 September 2016
Download Publications (1.7 MB)
- About three-quarters of respondents said legal advisors play one of the most important roles during the due diligence process.
- Half of all respondents indicated that the success of post-merger integration depends entirely or to a large extent on whether the two teams collaborate actively.
- 50% of respondents indicated that one of the biggest challenges to maintaining effective communication with a target company is the target’s unwillingness to share critical information.

Attractive M&A Targets: Part 1 – What do buyers look for?
21 September 2016
Download Publications (5.38 MB)

Monthly M&A Insider – September 2016
22 September 2016
Download Publications (7.29 MB)
- North America, despite being the main contributor to global M&A for August, had a 37.1% decrease in deal value.
- Europe lost 64.5% of its value within two months of the Brexit vote, which occurred in June, leading to the least active month for the region since 2009.
- The largest deal to come out of August involved Pfizer’s acquisition of Medivation for US$13.2bn.