The volume of announced deals involving UK targets in the first two quarters of the year fell 68.6% compared to the same period last year, leading to the quietest start to a calendar year for dealmaking since 2009.
Regional dealmakers remain cautious about the prospects of an M&A recovery in Central and Eastern Europe (CEE). Nonetheless, in spite of fears surrounding a second wave of the pandemic, activity is reigniting in selected sectors, albeit under "new normal" conditions.
The German economy is set to shrink by 10% in the three months to June as a result of the COVID-19 pandemic, but the DACH region is yet to see the effect of the pandemic on M&A value following several large transactions announced prior to the outbreak.
Ryan Gould
M&A Reporter, Mergermarket
The value of M&A in the European industrials & chemicals (I&C) sector fell 23.9% in 2019, as dealmakers looked to navigate the murky waters of a potential hard Brexit and alleviate fears of supply chain disruption caused by trade war concerns.
After several exuberant years in the European M&A markets; the party seems to be ending. Following a disappointing end to 2018, the worst half-yearly figure in five years, there’s some worry that dealmaking may continue to plummet.
Saudi Arabia saw a significant increase in the volume and value of deals during the first half of 2019.
France’s political volte face – apparently at the heart of the collapse of the Fiat Chrysler Automobiles [NYSE:FCAU] and Groupe Renault [EPR:RNO] tie-up – has added to the maelstrom of confusion for European M&A practitioners hoping to navigate waves of populism and economic nationalism.
When a company’s share price falls more than 50% over 10 months, does it sound alarm bells or flicker ‘buy-me’ eyes to an admiring fleet of suitors?
Jonathan Klonowski
Research Editor EMEA, Mergermarket
News that Siemens’ [ETR:SIE] merger with Alstom [EPA:ALO] has been blocked on competition grounds further highlights the obstacles faced by those intent on creating “European champions” to compete with Chinese and US giants.
Emma-Victoria Farr
Financial Journalist, Mergermarket
Germany is proud of its automotive industry; its small and medium-sized enterprises make up the backbone of Europe’s manufacturing landscape. From production, supply chain management and distribution, Germany’s ‘Mittelstand’ companies predominantly occupy the industrials sector.
Matt O'Brien
Content Editor, Acuris Studios (moderator)
This September marked the one-year anniversary when 12 major shareholders in US shale oil and gas producers met in Manhattan to discuss ways to turn fracking operations from cash burners into cash distributors. In the following months since that clandestine meeting, the very same shareholders, including Invesco Ltd., Macquarie Group and others, pressed executives to curtail capital expenditures and instead use that cash to reward investors with dividends and share buybacks.
Jonathan Klonowski
Research Editor EMEA, Mergermarket
Hostile UK takeovers have had varied success.
Olivia Cummins
PR Executive, Acuris
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