Issue 9 2019

Acquisition International - Issue 9 2019 75 Number and Aggregate Value (mil $) of Energy, Environmental and Cleantech Deals Globally: 2006-2019 YTD (as at 31 August 2019) Deal monthly value (Announced date) Number of deals Aggregate deal value (mil $) Q3 2019 522 52,730 Q2 2019 1,317 193,907 Q1 2019 1,471 73,505 Q4 2018 1,898 119,714 Q3 2018 991 155,787 Q2 2018 1,016 124,994 Q1 2018 975 156,387 Q4 2017 1,121 118,788 Q3 2017 794 94,437 Q2 2017 844 90,623 Q1 2017 823 182,276 Q4 2016 927 169,378 Q3 2016 744 124,020 Q2 2016 813 94,105 Q1 2016 1,556 110,951 Q4 2015 1,707 135,397 Q3 2015 938 146,489 Q2 2015 951 137,630 Q1 2015 793 85,834 Q4 2014 991 147,328 Q3 2014 992 182,785 Q2 2014 1,008 119,739 Q1 2014 939 91,787 Q3 2014 992 182,785 Q2 2014 1,008 119,739 World region (target) Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 North America 49,050 73,674 47,180 56,571 27,491 139,500 13,839 Western Europe 74,757 28,033 42,929 15,025 13,653 25,388 13,024 Far East and Central Asia 14,127 12,737 15,755 22,568 7,378 13,821 11,678 South and Central America 1,944 2,088 6,923 15,113 5,090 5,826 5,292 Middle East 1,104 319 216 2,093 6,446 3,177 3,915 Eastern Europe 2,326 4,862 38,887 4,809 11,861 3,316 2,621 Oceania 9,806 1,884 3,855 3,270 735 902 1,071 Africa 1,613 534 42 198 324 364 41 Aggregate Value (mil USD) of Energy, Environmental and Cleantech Deals by Region: 2006 - 2019 YTD (as at 31 August 2019) Bureau van Dijk The aggregate value of mergers and acquisitions (M&A) targeting TMT companies more than doubled in August 2019, despite volume declining month- on-month, according to Zephyr, the M&A database published by Bureau van Dijk. In all, there were 1,410 deals worth a combined USD 113,642 million announced during the month under review, compared to the USD 58,914 million injected across 1,989 deals in July. The month has proven to be one of the most impressive of the last year by value, having surpassed the likes of August 2018, November 2018, January 2019 and February 2019, among others. However, the result still fell short of June 2019’s USD 161,052 million and the USD 118,822 million injected in March 2019. August 2019’s value has been boosted by a number of sizeable deals, with the top eight by value all breaking the USD 10,000 million- barrier and the top 20 all worth over USD 3,000 million. The most valuable deal of all was worth USD 27,000 million and took the form of an acquisition as the London Stock Exchange Group agreed to acquire UK financial analytics software provider Refinitiv for USD 27,000 million. This was followed by the USD 15,700 million takeover of Tableau Software, a US-headquartered developer of online analytics and data visualisation technology, by Salesforce.com. Third place saw Digital Colony, EQT and Devonshire Investors, via Front Range TopCo, agreeing to pick up Zayo Group Holdings for USD 14,300 million. The US was frequently targeted in 2019 to date, with targets based in the country having featured in nine of the year to date’s top 20 deals by value, although the year’s largest transaction so far had a UK target. Other countries to feature in the top 20 include the Cayman Islands, Germany, Switzerland and China. On a quarterly comparison, 2019 has been quieter than 2018 in terms of the value of deals targeting TMT companies. Both of the first two quarters of 2019 are lower than the corresponding results from last year, while Q3 also does not look likely to reach the same level as Q3 2018’s USD 272,670 million. Nevertheless, it is still possible that an upturn in activity levels will occur over the coming months and change the course of the year. TMT Number and Aggregate Value (Mil $) of Energy, Environmental and Cleantech Deals Globally by Target Sector: 2006-2019 YTD (as at 31 August 2019) Number and Aggregate Value (mil USD) of Energy, Environmental and Cleantech Deals Globally: 2006-2019 YTD (as at 31 August 2019) Deal monthly value (Announced date) Number of deals Aggregate deal value (mil $) August 2019 231 14,287 July 2019 291 38,443 June 2019 778 33,294 May 2019 254 109,819 April 2019 285 50,794 March 2019 910 33,092 February 2019 278 17,775 BvD sectors (target) Number of deals Aggregate deal value (mil $) Mining & Extraction 20,585 2,793,615 Utilities 22,607 2,778,158 Transport, Freight & Storage 1,268 559,499 Chemicals, Petro- leum, Rubber & Plastic 2,126 327,159 Wholesale 2,398 153,463 Business Services 646 144,918 Waste Management & Treatment 3,848 119,232 Property Services 32 30,341 Computer Software 19 22,749 Banking, Insurance & Financial Ser- vices 50 20,859 Construction 93 16,573 Biotechnology and Life Sciences 19 14,197 Retail 32 11,676 Industrial, Electric & Electronic Ma- chinery 38 10,050 Travel, Personal & Leisure 11 6,878 Metals & Metal Products 21 3,676 Leather, Stone, Clay & Glass products 7 1,353 Public Administration, Education, Health Social Services 14 1,135