Our Insights into M&A Trends
M&A - The Global Picture
2015: The story so far
2014 was an impressive year for global M&A and that momentum has been maintained into the first half of 2015. Global announced deal values reached US$1.7trn, making it the strongest half-year period for M&A since the first six months of 2007. Looking ahead to the rest of the year, global indicators point to continued strong M&A activity. We are seeing bold moves in US boardrooms, supported by outperforming stock markets, a strong currency and cheap debt. These drivers, together with increased shareholder pressure to use M&A as a way of securing growth, are expected to result in further transformational strategic deals for US corporates. China outbound M&A deals look set to increase in size and number, as government policy to encourage Chinese enterprises to expand internationally takes effect, and this activity is likely to centre on US and European marquee brands and tech firms. Deal appetite in European boardrooms over the coming months is more difficult to predict – the current 'wait and see' approach may remain as long as question marks hang over the position of Greece and the UK in Europe, and while economic uncertainties persist.
Global Head of Corporate
Global Head of Corporate, Clifford Chance LLP