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Consumer Product Deals Quarterly - Q1 12 - Volume and value both declining - EY - Global

Consumer Product Deals Quarterly: Q1 12

Volume and value both declining

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Deal volumes declined from Q4 11 to Q1 12, the third consecutive quarterly decline.

Deal volumes and values both declined sharply in Q1 12 when compared with Q4 11. Deal volumes are at their lowest point in three years.

Average deal values declined and the size of the top 10 deals was significantly smaller than in previous quarters, with deals of scarcely more than US$100m making the top 10.

Deal volumes declined from 373 in Q4 11 to Q1 12 to 305 deals in Q1 12, a fall of 18% and the third consecutive quarterly decline.

The four-period, long-term moving average of deal volume is trending lower, it fell by 9% to 391 transactions in Q1 12. PE deal volumes fell far more sharply during the quarter than corporate deal volumes (declines of 46% and 11%, respectively).

Deal volumes Q2 09 to Q1 12


Deal volumes Q2 09 to Q1 12

Source: EY's Analysis of Thomson Reuters Data

Total disclosed deal value declined even more sharply than the drop in volume, falling by 50% from US$15b in Q4 11 to US$7.5b in Q1 12. However, part of the drop in value is accounted for by the fact that the proportion of deals with disclosed values also declined.

Of the total 305 deals announced in Q1 12, 26% have disclosed values, compared with 34% of 373 deals in Q4 11.

There were no mega deals with a value greater than US$5b in Q1 12 and only two deals had a value in excess of US$1b. The average deal value for disclosed deals also decreased by US$21m to US$96m, the sixth consecutive quarterly decline.

Deal values Q2 09 to Q1 12


Deal values Q2 09 to Q1 12

Source: EY's Analysis of Thomson Reuters Data



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