Market Overview

M&A Activity Booming In Michigan, Crashing In Illinois


The total value of M&A deals in the U.S. Midwest was down 28.2 percent year-over-year in Q1, according to a new report by MergerMarket. However, some regions were hit harder than others. Illinois’ total deal value dropped 50.1 percent year-over-year in Q1, while Michigan’s total deal value skyrocketed 90 percent.

Illinois still represents by far the most active M&A state in the region, registering $45.1 billion in deals in Q1, more than half of the activity in the entire Midwest.

“Despite recording lower values than in Q1 of 2015, one could still argue that the Midwest has had a somewhat successful showing based on its market share of overall US value and its share above its own quarterly regional historic average,” MergerMarket explains.

Related Link: Doing The Math On A Potential Spirit-Frontier Merger

Overall, the Midwest had a total of $87.6 billion in deals in Q1, down from $121.9 billion in deals a year ago.

The top Q1 Midwest deals include Shire PLC (ADR) (NASDAQ: SHPG)’s $35.2 billion bid for Baxalta Inc (NYSE: BXLT), Fortis Inc’s $11.3 billion bid for ITC Holdings Corp. (NYSE: ITC) and Sherwin-Williams Co (NYSE: SHW)’s $10.8 billion bid for The Valspar Corp (NYSE: VAL).

Goldman Sachs Group Inc (NYSE: GS), Citigroup Inc (NYSE: C) and Barclays PLC (ADR) (NYSE: BCS) topped the list of M&A financial advisors in the Midwest in Q1 based on total deal value.

Disclosure: the author holds no position in the stocks mentioned.

Latest Ratings for SHPG

Sep 2018DowngradesOutperformMarket Perform
Feb 2018MaintainsNeutralNeutral
Feb 2018DowngradesOverweightNeutral

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