“History doesn’t repeat itself, but it often rhymes,” as Mark Twain is often quoted as saying. When it comes to the credit cycle and the stock market, the ups and downs most definitely rhyme. The challenge for investors is to be in equities in the upswing of the cycle, selling out before the downswing starts due to rising default rates. The Swedish economist Knut Wicksell argued that when the return on capital was higher than the cost of capital, it would lead to a cumulative process of excess credit creation due to higher expectations of profits. This might come about

Join our “What’s Driving Deal Making” webcast April 6th at 10 am EDT, 3pm GMT While Q1 2017 is yet to come to close, the recent global IPO boom and latest data showcases the deal making decline encountered in January 2016 post the year of the mega deal won’t be repeating itself. As the year kicked off worldwide M&A reached at 6-year high. As of January 30th 2017, worldwide announced M&A totalled US$258.2 billion, up 38% from January 2016 and highest January total since 2011. Download our latest Investment Banking Scorecard Deals Intelligence brings you a monthly review showcasing the

After a record-breaking year for worldwide deal making  in 2015, 2016 saw merger announcements fall amidst increased stock market volatility, a sharp decrease in the number of  mega deals and an all-time year-to-date record for the dollar volume of failed bids. Thomson Reuters Deals Intelligence and Reuters Breakingviews explored the drivers and highlights of deal making in 2016, took a deep dive into Q4 and provided exclusive insights into what is yet to come in this changing landscape. Tune in for: A deep dive into asset classes, sectors and regional activity powered by our industry-leading deals database Market share dynamics across the global

2015, the most prolific 12 months for worldwide deal making in history, continues to be remembered as the year of the megadeal having experienced record-levels of M&A activity in the United States, Asia Pacific and rapidly consolidating industries ranging from healthcare and energy & power to technology and industrials.  Unsurprisingly, 2016 saw merger announcements fall, with increased stock market volatility, a sharp decrease in the number of mega deals and an all-time year-to-date record for the dollar volume of failed bids. But how will 2016 be remembered? While far behind 2015, it will be remembered for some transformative deals, which helped

Post Brexit UK domestic M&A plunged to a 30 year low. Thomson Reuters Deals Intelligence explores the key facts and figures. In September, Reuters reported Britain’s shock vote to leave the European Union chilled dealmaking activity involving British companies to the lowest level in at least two decades as bosses grapple with what Brexit will cost, according to Thomson Reuters data. Even before the vote, Brexit jitters had taken a toll on M&A activity. Confidence was and remains low. Lucille Jones, Head of EMEA Deals Intelligence for Thomson Reuters says: “Lingering political uncertainty continues to affect UK deal making as the value

With the end of the year approaching, Thomson Reuters Deals Intelligence and Freeman Consulting Services, explore the global investment banking fees landscape, the highs, the lows and how 2016 compares to previous years. Key Facts & Figures EMEA Share of Global IB Fees At All-Time Low As Asia Fees Hit Record High Global investment banking fees from completed M&A advisory, capital markets underwriting and syndicated lending total US$73.7 billion so far during 2016, 11% less than the value recorded during the same period in 2015 and the lowest year-to-date total since 2012. Fees earned in the Americas have fallen 17%

As November came to a close, Thomson Reuters Deals Intelligence explored the global energy and power M&A landscape, bringing context to the figures and comparing the sectors’ performance to past years. With the announcement of Sunoco Logistics’ purchase of Energy Transfer Partners, this year’s announced M&A transactions targeting the energy & power sector total US$533.7 billion, up 12% from the value recorded during the same period last year and the highest year-to-date total since 2007. Energy & Power is one of only two sectors to see an increase in the value of deals globally from last year. Most other industries

According to estimates by Thomson Reuters and Freeman Consulting, worldwide mid-market M&A deals valued up to $500 million (including undisclosed value deals) totaled $649.8 billion for the first nine months of 2016, a 3.5 percent decrease year-on-year. In addition, estimated global fees generated from completed mid-market M&A activity reached slightly over $10.2 billion for the first nine months of 2016. We invited you to join ACG and expert Matthew Toole, Head of Deals Intelligence at Thomson Reuters, for a full global review of mid-market M&A, including the highs, lows and how this landscape evolved in 2016. Topics covered: A deep