29 January 2013 20:09 [Source: ICIS news]
Overall deal volume for 2012 also hit a 10-year high at 204 transactions involving deals valued at more than $50m (€37m), representing $146.2bn, which was the second highest total deal value in 10 years, PwC said. During the final three months of 2012, total deal value hit $56.2bn, also the second highest level in 10 years.
Several factors contributed to the flurry of merger and acquisition, PwC said, including private equity interest, foreign buyers, shale plays and companies looking to get deals done before the end of the year with the looming federal budget “fiscal cliff” situation and proposed tax changes.
“This past year was a watershed moment for the industry, with private equity involvement reaching an all-time high, shale deal volume at a two-year high during the fourth quarter and a jump in asset transactions as companies have shifted their focus to adding more profitable liquid rich shale plays to their portfolios,” said Rick Roberge, principal in PwC's energy merger-and-acquisition practice.
“We expect to see a slight pause in [mergers and acquisitions] during the first part of 2013 as companies focus on the recent wave of deals announced, but believe 2013 will be another banner year for deals as the
($1 = €0.74)
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