Issue 1 2020

Acquisition International - Issue 1 2020 37 Number and Aggregate Value (mil USD) of M&A Deals Globally: 2006-2019 (as at 31 December 2019) Deal quarterly value (Announced date) Number of deals Aggregate deal value (m USD) Q4 2019 18,643 841,006 Q3 2019 23,587 829,480 Q2 2019 26,437 1,205,219 Q1 2019 27,199 1,102,550 Q4 2018 32,561 1,169,511 Q3 2018 21,607 964,342 Q2 2018 23,178 1,165,908 Q1 2018 22,421 1,219,743 Q4 2017 19,168 916,360 Q3 2017 17,663 707,855 Q2 2017 18,187 844,389 Q1 2017 18,223 814,408 Q4 2016 18,458 1,051,404 Q3 2016 18,002 955,059 Q2 2016 18,474 748,722 Q1 2016 26,818 820,001 Q4 2015 26,333 1,226,518 Q3 2015 20,682 1,078,243 Q2 2015 20,347 1,048,209 Q1 2015 18,695 946,386 Q4 2014 19,707 901,906 Q3 2014 19,292 900,130 Q2 2014 18,410 979,897 Q1 2014 18,548 658,930 Q4 2013 19,392 672,409 World region (target) 2013 2014 2015 2016 2017 2018 2019 North America 20,295 23,614 29,212 26,829 18,880 28,457 34,857 Far East and Central Asia 13,153 16,690 20,146 17,348 17,437 26,533 25,736 Western Europe 18,448 18,474 22,236 23,993 23,040 29,824 23,875 Eastern Europe 9,396 10,529 7,726 8,117 8,212 7,600 4,455 Oceania 3,913 2,966 2,777 2,338 2,280 3,112 2,760 South and Central America 1,710 1,764 1,984 1,403 1,531 2,324 2,314 Africa 915 1,227 1,226 1,021 1,083 1,093 1,128 Middle East 882 685 735 771 678 727 678 Number of M&A Deals Globally by World Region: 2006-2019 (as at 31 December 2019) Bureau van Dijk Despite the slide from year to year, 2019’s volume was actually fairly robust. In fact, the year was the second-highest on record in terms of the number of deals targeting the sector, behind 2018 and ahead of 2010’s 7,380. The value result was less encouraging, with the year coming out as the 13th largest, while 2018 ranked third. This is not to say there was a complete absence of high value dealmaking in 2019. The most valuable deal targeting an energy and resources company to have been announced during the year was worth USD 55,000 million and took the form of an acquisition as Occidental Petroleum picked up Anadarko Petroleum back in August. However, no other deals on this scale were announced as the second-largest saw MPLX take over Andeavor Logistics for USD 14,000 million. Two other transactions broke the USD 10,000 million-barrier – a USD 10,300 million buyout of Buckeye Partners by Hercules Intermediate Holdings and a USD 10,000 million private placing of stock by Occidental Petroleum to Berkshire Hathaway. In terms of the most active regions, North America topped the rankings by volume and value, with companies based there having been targeted in 2,713 deals worth an aggregate USD 200,646 million. The Far East and Central Asia placed second by volume, with 1,439 deals, while Oceania came third with 1,303. The only other region to have been targeted in more than 1,000 deals was Western Europe (1,215). By value, Western Europe was second with USD 86,781 million and the Far East and Central Asia came next with USD 71,919 million. As with Global M&A, although the results for the energy and resources segment may look disappointing at first glance, a little further analysis reveals that it was in fact a fairly positive year, particularly in terms of the volume of deals being announced. A few more transactions on the scale of the Anadarko Petroleum buyout would have seen value skyrocket towards the levels recorded in previous years. Thus, there is plenty to be positive about as we enter a new decade. Energy and Resources Number and Aggregate Value (mil USD) of M&A Deals Globally: 2006-2019 (as at 31 December 2019) Number and Aggregate Value (mil USD) of M&A Deals Globally: 2006-2019 (as at 31 December 2019) Deal yearly value (Announced date) Number of deals Aggregate deal value (m USD) 2019 95,866 3,978,254 2018 99,767 4,519,504 2017 73,241 3,283,013 2016 81,752 3,575,186 2015 86,057 4,299,356 2014 75,957 3,440,862 2013 68,813 2,583,104 BvD sectors (target) Number of deals Aggregate deal value (m USD) H2 2019 42,230 1,670,485 H1 2019 53,636 2,307,769 H2 2018 54,168 2,133,852 H1 2018 45,599 2,385,652 H2 2017 36,831 1,624,216 H1 2017 36,410 1,658,797 H2 2016 36,460 2,006,463 H1 2016 45,292 1,568,723 H2 2015 47,015 2,304,761 H1 2015 39,042 1,994,595 H2 2014 38,999 1,802,036 H1 2014 36,958 1,638,827 H2 2013 36,615 1,427,915 H1 2013 32,198 1,155,189 H2 2012 31,705 1,290,513 H1 2012 30,351 1,021,197 H2 2011 30,062 1,113,137 H1 2011 28,826 1,281,832 H2 2010 29,167 1,135,178 H1 2010 28,719 1,000,427 H2 2009 25,504 968,371 H1 2009 24,385 1,105,577 H2 2008 24,348 1,310,933 H1 2008 25,612 1,372,655 H2 2007 26,626 1,841,160 H1 2007 28,130 2,460,159 H2 2006 26,141 1,775,839