Latest State Of Play In M&A
The Monthly M&A Insider explores the numbers, movements and trends in the global M&A market as well as revealing the top financial and legal advisers – both globally and broken down across six regions (North America, Central and South America, Europe, Middle East and Africa, Asia-Pacific and Japan).
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October saw five megadeals (above US$10bn), which accounted for 53.9% of October’s total M&A value. The deal between AT&T and Time Warner worth US$105.0bn has been the largest acquisition of the month, as well as the biggest transaction of the year thus far, and accounted for 24.9% of the global M&A value for the month. The deal has received increased attention from the media as it has encountered political and public disapproval for reducing competition and further consolidating the industry.
Thanks to the deal between AT&T and Time Warner, Media was the largest sector in October with 31 deals worth US$106.6bn. The sector accounted for 25.3% of total M&A value, and increased almost tenfold compared to the same month last year. AT&T’s US$105.0bn acquisition of Time Warner contributed to 98.5% to the total …
Media was the top sector with 13 deals worth US$105.9bn. The sector’s value was up 1,730.5% with 7 fewer deals compared to last October (US$5.8bn, 20 deals). The value is heavily inflated by the aforementioned AT&T/ Time Warner transaction, which accounts for over 99% of the sector’s total value. Although the transaction isn’t a tax inversion, which has been increasingly regulated, it will still be interesting to follow the regulatory response to such a large deal. AT&T’s implied offer price per share is US$107.5, and Time Warner’s shares are still trading well below US$90, which may signify lack of investor belief that the transaction will receive the necessary regulatory approvals … download the report.