A look back to IFLR1000's selection of deal announcements in September shows us that it was an active month with high value deals across a range of sectors. Predictably, technology deals were a big driver with further representation in the insurance, energy, mining, and of course the pharmaceuticals sector.
Bayer reached an agreement with Monsanto to acquire the US agrochemical company for $66 billion in what will be the largest all cash transaction ever, subject to regulatory approval; and the Mexican Ministry of Communications and Transportation and Aeropuertos y Servicios Auxiliares issued $2 billion in green bonds to finance Mexico City's new international airport.
Compared to September 2015, there has been a huge uptick in the value stakes with the value percentage trends displaying positive changes. There is no doubt that the huge $66 billion Bayer pharma acquisition has played a huge part as firms such as Wachtell Lipton Rosen & Katz, Sullivan & Cromwell, Shearman & Sterling, Allen & Overy and Clifford Chance feature prominently on the value table, with firms such as WilmerHale alongside Indian firm Luthra & Luthra—who registered a scarcely believable 51083.6% increase—making an appearance. However, the table in deal volume remained stable with Kirkland & Ellis leading with 28 deals in September, which was its third month in a row at the top.
Elsewhere we saw HP acquire Samsung Electronics' printer business for $1.05 billion, which was its largest since HP split from Hewlett Packard Enterprise last year. In another technology deal Japanese semiconductor Renesas Electronics acquired US-based Intersil in a $3.2 billion deal. There were also a couple of equity capital markets deals, with Motor oil and automotive lubricant provider Valvoline raising $759 million in its IPO amid an incredibly slow stretch for IPOs in the US; and ICICI Prudential Life Insurance becoming the first listed insurance company in India in its Re60 billion IPO—the deal is the largest IPO in India since that of Coal India in 2010, and is also the largest life insurance IPO in Asia, excluding Japan, since 2012.
If you have any public deal announcements you would like us to take into account for our reports please send them to - amajeed@iflr1000.com
It’s almost time for the launch of IFLR1000 Deal Data, a fully searchable database whose BETA version went live in May. This database of significant deal records from over 120 countries will have its EMEA launch in November and will include searchable and filterable data on the most significant legal transactions from around the globe, and all of our featured monthly deals will be included along with many more garnered from the IFLR1000's own research, press releases and other deal announcements.
Below you can access our top picks for September 2016 linked to their record in the new deals database.
Adam Majeed - Asia-Editor
Mergermarket table 1 - Law firms by global M&A deal value
Mergermarket table 2 - Law firms by global M&A deal volume
Deal 1: Allianz and Snam €601 million acquisition of 49% stake in Gas Connect Austria from OMV
Jurisdictions: Austria
Deal type: Private acquisition
Industry sectors: Oil and gas
Deal 2: Aluminium Corporation of China HK$2.5 billion acquisition of Chinalco Mining Corporation International
Jurisdictions: Cayman Islands, China, Hong Kong
Deal type: Public acquisition, Privatisation
Industry sectors: Energy, Mining
Deal 3: Bayer $66 billion acquisition of Monsanto
Jurisdictions: United States, India, Germany
Deal type: Public acquisition
Industry sectors: Pharmaceuticals and life sciences, Food and beverage, Agriculture
Deal 4: Canada Pension Plan Investment Board $1.1 billion acquisition of Ascot Underwriting Holdings
Jurisdictions: United Kingdom
Deal type: Public acquisition
Industry sectors: Insurance
Deal 5: HP $1.05 billion acquisition of Samsung printer business
Jurisdictions: United States, South Korea
Deal type: Public acquisition
Industry sectors: Technology and telecommunications
Deal 6: ICICI Prudential Life Insurance Re60 billion BSE/NSE IPO
Jurisdictions: India
Deal type: IPO
Industry sectors: Insurance
Deal 7: 3 Italia/Wind Telecomunicazioni €21.8 billion merger
Jurisdictions: Italy, United Kingdom
Deal type: Merger
Industry sectors: Technology and telecommunications
Deal 8: Mexico City New International Airport $2 billion green bond issue
Jurisdictions: Mexico
Deal type: Investment grade bond/note issue, Project bond issue, Project finance
Industry sector: Aviation, Transport
Deal 9: PKO Bank Hipoteczny €4 billion mortgage covered bonds programme
Jurisdictions: Poland
Deal type: Covered bond issue, Bond/note programme
Industry sectors: Banking
Deal 10: Reliance Communications/Aircel Re650 billion merger
Jurisdictions: India
Deal type: Merger
Industry sectors: Technology and telecommunications
Deal 11: Renesas Electronics $3.2 billion acquisition of Intersil
Jurisdictions: United States, Japan
Deal type: Public acquisition
Industry sectors: Energy, Technology and telecommunications
Deal 12: Usimina R$7 billion debt restructuring
Jurisdictions: United States, Brazil, Japan
Deal type: Financial restructuring
Industry sectors: Mining
Deal 13: Valvoline $759 million IPO
Jurisdictions: United States
Deal type: IPO, Spin Off
Industry sectors: Consumer goods and services, Automotive
IFLR1000 Reporters:
Sam Duke - Editor
Adam Majeed - Asia-Pacific Editor
Ben Naylor - EMEA Editor
John Crabb - Journalist EMEA
Jon Moore - Journalist EMEA
Wai Yee Tsang - Journalist Asia-Pacific
Rani Mehta - Journalist Latin America
Kurt Stumpo - Journalist - North America and the Caribbean