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Clayton Reeves
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Clayton has been an avid follower of world economics and investments for more than fifteen years. He possesses strong value based investment convictions, but also realizes the material impact that macro events and market momentum have on portfolio return. Mr. Reeves focuses on global... More
  • Energy M&A: Off To The Races 0 comments
    Feb 21, 2013 12:35 PM

    General mergers & acquisitions in the United States are taking place at the fastest rate since before the Great Recession. Retail giants Office Max and Office Depot are combining to form a more efficient global purveyor of office goods and supplies. Market mover Warren Buffett joined another firm in buying all the stock of H.J. Heinz Co. for a cool $23 billion. Two weeks ago, Michael Dell took the company bearing his name private, in a leveraged deal that looked a lot like a pre-recession transaction. Liberty Global bought British Cable business Virgin Media for $16 billion.

    Energy/oil & gas M&A has been particularly robust, hitting a 10 year high according to PwC in Houston. Q4 activity increased overall deal volume in 2012 to a 10-year high at 204 transactions when counting only deals valued at $50 million+. These deals represent $146.2 billion, the second highest total deal value in ten years. The recovery in energy M&A seen last quarter was driven by several factors, according to PwC; these included urgency to finish deals before potential tax changes, an increase in shale play popularity and improving private equity interest.

    Link to CC Capital Advisors blog.

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