Total outbound crossborder M&A involving US-based bidders reached a record of US$379.8 billion in the first half of 2021. This is already higher than any annual value total on Mergermarket record (since 2006). The largest of these deals was the acquisition of Singapore-based Grab Holdings by Altimeter Growth, a special purpose acquisition company (SPAC).
A total of US$121.8 billion worth of deals were announced in the Asia tech sector in the first six months of 2021. This was higher than any annual total on Mergermarket record (since 2006), overtaking the US$109 billion in annual M&A value in 2018.
There were 4,154 transactions in the first half of 2021 involving targets based in Western Europe. This was more than in any other half-yearly period on Mergermarket record (since 2006). The largest transaction was a merger between UK utilities firms National Grid and Western Power—a deal valued at US$19.8 billion.
The transportation sector has had its best quarter on Mergermarket record (since 2006) in Q2 2021. The sector registered US$58.7 billion in total transaction value. Much of this was due to the largest transaction of the quarter, the US$33.6 billion acquisition of Kansas City Southern by Canadian National Railway.
Software M&A in the first six months of the year came to US$357.8 billion. This is already more than any annual total on Mergermarket record (since 2006). The largest deal of the year so far was the spin-off of WMware by Dell—a deal which values the company at US$52.2 billion.
Inbound crossborder deal value in the Middle East topped previous Mergermarket records (since 2006) in H1 2021. A total of US$47.7 billion was agreed in the first half, already more than in any previous annual total. The largest transaction was the US$12.4 billion investment in Saudi Aramco’s pipeline business by a consortium led by EIG Global Energy Partners.
The industrials and chemicals sector had the second-best half-year period on Mergermarket record (since 2006) in terms of aggregate transaction value. A total value of US$315 billion was announced in the sector in H1, the highest total of any six-month period aside from the US$319.7 billion announced in H1 2019.
There were 47 deals worth US$5 billion or more in the first quarter of 2021, the highest number of any quarter since Q2 2007, which recorded 48 deals in that price range. The largest of these this quarter was the US$31.1 billion acquisition of GE Capital Aviation Services by AerCap Holdings.
UK M&A value came to US$111.2 billion in the first three months of 2021—the highest of any Q1 period on Mergermarket record (since 2006). The largest deal of the quarter was the US$19.8 billion acquisition of regional utility firm Western Power Distribution by National Grid.
There were 478 US private equity buyout deals in the first quarter of 2021—more than in any other quarter on Mergermarket record (since 2006). This was an 11% rise on the previous quarter, the previous record high. The largest transaction of the quarter was the US$9.2 billion acquisition of Extended Stay America, an operator of a chain of apartment hotels, by Blackstone Real Estate Partners and St
Global automotive M&A recorded the highest total value of any quarter in over ten years. Q1 2021 saw US$40.8 billion worth of deals in the sector, more than any quarter since Q2 2009 which registered US$52.1 billion in activity. Nearly half of the total value was due to the US$17.6 billion acquisition of electric vehicle firm Atieva (doing business as Lucid Motors) by Churchill Capital Corp IV.
The first quarter of 2021 saw US$40.2 billion worth of M&A in the construction sector globally. This represents the highest value of any Q1 on Mergermarket record (since 2006). This was boosted by the largest deal in the sector, a domestic Chinese deal which saw Xinjiang Tianshan Cement acquire four regional cement manufacturers for US$15.2 billion.
Canadian M&A came to US$56.9 billion in the first quarter of 2021—the highest quarterly value since Q3 2007 which recorded US$79.8 billion worth of deal activity. The largest deal of the quarter was the US$21.2 billion merger between telecoms firms Rogers Communications and Shaw Communications.
M&A in the leisure sector in the US came to US$24.7 billion in Q1 2021, the highest total of any quarter since Q3 2007’s US$35.6 billion. This was boosted by the US$9.2 billion acquisition of hotel chain Extended Stay America by Blackstone Real Estate Partners and Starwood Capital, the largest US buyout of the quarter.
M&A deals targeting Japanese firms totaled US$109.1 billion in value, the highest annual value on Mergermarket record (since 2006). A large proportion of the overall deal value was due to the largest transaction of the year, telecoms firm NTT’s US$40.4 billion acquisition of a 33.8% stake in mobile provider DoCoMo.
Global semiconductor dealmaking totaled US$139 billion in 2020, the highest of any year on Mergermarket record (since 2006), topping the previous record of US$129.8 billion in 2016. This massive total was boosted by the US$38.5 billion bid for ARM by NVIDIA, as well as the US$35.6 billion Advanced Micro Devices/Xilinx deal.
A total of US$61.8 billion in M&A value was announced in 2020 in Latin America and the Caribbean—the lowest annual value on Mergermarket record (since 2006). The largest deal of the region was a corporate restructuring deal that saw energy firm Cosan consolidate two of its corporate entities into one holding group in a US$10.5 billion deal.
In 2020, the number of deals in the middle market (between US$5 million and US$99 million) reached the lowest point since 2013. There were 7,381 deals across the year, the lowest annual figure since 2013 which saw 7,366 transactions in that size bracket.
There were 185 inbound cross-border transactions in India in 2020, worth US$49.1 billion in aggregate. This represents the highest total value of any year on Mergermarket record (since 2006). The two largest deals of the year were both investments in internet service provider Reliance Jio—Facebook invested US$5.7 billion in April, while Google invested US$4.5 billion in July.
Global M&A value in the financial services sector came to US$379 billion in 2020—the highest annual total since 2015, which saw US$488.2 billion in aggregate deal value. The largest deal of the year was a merger between two UK insurance firms. The US$35.6 billion deal, which is still pending approval by regulators, will sees Aon take over Willis Towers Watson.
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