China is at the center of global mergers and acquisitions in 2016, with deal values amounting to US$81.7 billion, shows Mergermarket’s Q1 trend report.
China has scaled up its search for foreign targets with its outbound activity accounting for a 26.3% share of total cross-border deals during Q1 2016, a steep increase considering no full year has ever surpassed 7.6%.
China’s outbound M&A amounted to US$ 81.7bn in the first quarter, already a record annual total. The country attempted its largest US outbound acquisition in history when Anbang
Insurance offered to buy Strategic Hotels and Resorts for US$ 6.5bn.
In another deal, China National Chemical Corporation made the largest deal of Q1 when it acquired Switzerland-based Syngenta for US$ 45.9bn. And in yet another transaction, Tianjin Tianhai Investment bought US-based Ingram Micro for US$ 6.1bn.
Globally, industrials & chemicals sector dominated the first quarter's M&A activity, with US$144.7bn of deals. Meanwhile, outbound deals amounted to US$597.4bn.
Goldman Sachs leads the advisor rankings, having advised on 46 deals worth US$237.2bn.