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4-Traders Homepage  >  Equities  >  Euronext Amsterdam  >  AkzoNobel    AKZA   NL0000009132

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Cross-border M&A between U.S. and European firms at 10 year high

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05/22/2017 | 03:18pm CEST

LONDON (Reuters) - Some $171.8 billion (132.14 billion pounds) of cross-border merger and acquisition deals between U.S. and European companies have been announced so far in 2017, the highest figure at this stage of the year for a decade as companies on both sides of the Atlantic hunt for deals to offset sluggish growth.

A $14 billion tie-up between U.S.-based chemicals firm Huntsman Corp (>> Huntsman Corporation) and European rival Swiss Clariant AG (>> Clariant AG), announced on Monday, is the latest example of the spate of big deals between the two regions.

The overall value of cross-border M&A deals between the U.S. and Europe is up 82 percent on the same period last year, according to Thomson Reuters data, and the highest over the same timeframe since at least 2007.

Interest in major cross-border deals was underscored earlier this year when Kraft Heinz Co (>> Kraft Heinz Co) made a surprise $143 billion bid for Unilever (>> Unilever plc) (>> Unilever), only to withdraw it less than 48 hours later, while U.S. healthcare giant Johnson & Johnson (>> Johnson & Johnson) clinched Swiss biotech company Actelion (>> Actelion Ltd) in a $30 billion all-cash deal.

Optimism over U.S. President Donald Trump's economic agenda has buoyed stock markets worldwide, as well as the U.S. dollar, which has made foreign acquisitions cheaper for U.S. companies.

Low interest rates are also keeping down borrowing costs.

Switzerland and the Netherlands have so far been the main shopping destinations for companies on the other side of the Atlantic, with U.S. buyers announcing a combined $70.2 billion worth of deals in those two countries this year, the data shows. 

But some European companies have been fighting hard for their independence.

Shareholders in Dutch paint maker Akzo Nobel (>> Akzo Nobel), angered by its rejection of a 26.3 billion euro ($29.6 billion)takeover proposal from U.S. rival PPG Industries (>> PPG Industries, Inc.), took their fight to an Amsterdam court on Monday.

Britain remains Europe's biggest acquirer in the United States, with deals totalling $21.1 billion so far this year, followed by Switzerland with $11.5 billion.

In February, Reckitt Benckiser (>> Reckitt Benckiser Group Plc) announced a deal to buy U.S. baby formula maker Mead Johnson Nutrition (>> Mead Johnson Nutrition CO) for $16.6 billion, giving the British consumer goods company a new product line and expanding its presence in developing markets where Mead Johnson has a strong footprint.

Bank of America Merrill Lynch, which advised Reckitt Benckiser on that deal, leads the list of financial advisers on cross-border transactions announced between U.S. and European companies, with $83.1 billion worth of deals so far this year.

That represents 48 percent of the total, according to Thomson Reuters data.

(Reporting by Pamela Barbaglia; Editing by Mark Potter)

By Pamela Barbaglia

Stocks mentioned in the article
ChangeLast1st jan.
ACTELION 0.00%-End-of-day quote.27.10%
CLARIANT -1.18% 23.37 Delayed Quote.-13.21%
HUNTSMAN CORPORATION -2.27% 30.54 Delayed Quote.-6.13%
JOHNSON & JOHNSON -0.48% 121.45 Delayed Quote.-12.27%
MEAD JOHNSON NUTRITION CO 0.00%-End-of-day quote.0.00%
PPG INDUSTRIES -0.80% 104.3 Delayed Quote.-10.00%
RECKITT BENCKISER -0.85% 6158 Delayed Quote.-10.23%
THE KRAFT HEINZ COMPANY -0.75% 62.57 Delayed Quote.-18.93%
UNILEVER 0.07% 4079.5 Delayed Quote.-1.19%
UNILEVER (NL) 0.18% 46.89 Delayed Quote.-0.32%
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Financials (€)
Sales 2018 9 557 M
EBIT 2018 899 M
Net income 2018 2 397 M
Debt 2018 1 632 M
Yield 2018 2,93%
P/E ratio 2018 21,11
P/E ratio 2019 25,29
EV / Sales 2018 2,14x
EV / Sales 2019 2,02x
Capitalization 18 866 M
Duration : Period :
AkzoNobel Technical Analysis Chart | AKZA | NL0000009132 | 4-Traders
Technical analysis trends AKZONOBEL
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 18
Average target price 83,9 €
Spread / Average Target 13%
EPS Revisions
Thierry F. J. Vanlancker Chief Executive Officer
Nils Smedegaard Andersen Chairman-Supervisory Board
Ruud Joosten Chief Operating Officer
Maarten de Vries Chief Financial Officer
Peggy Bertha Bruzelius Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
AKZONOBEL2.27%21 779
PPG INDUSTRIES-10.00%25 962
ASIAN PAINTS9.53%17 859