Research Alert
Global Research Private Banking Zurich Investment horizon: 6-12+ months
Research Alert
21/01/2013
Top investment ideas
Dan Scott dan.scott@credit-suisse.com, +41 44 334 56 33
Top investment ideas Merger and acquisition activity on the rise
Buy
A selection of potential acquisition targets. See our list of potential M&A targets at the end of the report.
Early signs of recovery in M&A Along with financial market sentiment, M&A activity saw a spike in Q4 2012, with over 7000 deals worth almost USD 730 bn in value. This is the highest level in the last six quarters since anemic GDP growth rates in developed markets and uncertainty about the macroeconomic outlook pushed corporates to shelve any M&A decisions. Since our publication “Mergers and acquisitions: Have we hit the bottom?“ dated 4 September 2012, the Credit Suisse M&A 15 target list has gained over 12% and outperformed its benchmark (the MSCI World Index). We continue to monitor market developments and screen for M&A activity, and are now making changes to our target list.
The fourth quarter of 2012 saw a rebound in M&A activity and 2013 has already seen some large deals announced; we believe the trend could hold.
M&A volumes and number of deals
2'000 1'800 1'600 1'400 9'000
USD bn
10'000
We have updated our list of 15 potential M&A targets. Mergers and acquisitions are a component of our top investment ideas for 2013.
8'000
1'200 1'000 800 600 400 200 6'000 7'000
5'000
This alert is for risk-tolerant equity investors interested in the M&A theme and who are following or already invested in our M&A 15 list.
0
4'000
2001 Q42002 Q42003 Q42004 Q42005 Q42006 Q42007 Q42008 Q42009 Q42010 Q42011 Q42012 Q4 M&A deal volume Deal Count
Source: Bloomberg, Credit Suisse
Important disclosures are found in the Disclosure appendix. Credit Suisse does and seeks to do business with companies covered in its research reports. As a result, investors should be
Research Alert
21/01/2013
Top investment ideas
Dan Scott dan.scott@credit-suisse.com, +41 44 334 56 33
Top investment ideas Merger and acquisition activity on the rise
Buy
A selection of potential acquisition targets. See our list of potential M&A targets at the end of the report.
Early signs of recovery in M&A Along with financial market sentiment, M&A activity saw a spike in Q4 2012, with over 7000 deals worth almost USD 730 bn in value. This is the highest level in the last six quarters since anemic GDP growth rates in developed markets and uncertainty about the macroeconomic outlook pushed corporates to shelve any M&A decisions. Since our publication “Mergers and acquisitions: Have we hit the bottom?“ dated 4 September 2012, the Credit Suisse M&A 15 target list has gained over 12% and outperformed its benchmark (the MSCI World Index). We continue to monitor market developments and screen for M&A activity, and are now making changes to our target list.
The fourth quarter of 2012 saw a rebound in M&A activity and 2013 has already seen some large deals announced; we believe the trend could hold.
M&A volumes and number of deals
2'000 1'800 1'600 1'400 9'000
USD bn
10'000
We have updated our list of 15 potential M&A targets. Mergers and acquisitions are a component of our top investment ideas for 2013.
8'000
1'200 1'000 800 600 400 200 6'000 7'000
5'000
This alert is for risk-tolerant equity investors interested in the M&A theme and who are following or already invested in our M&A 15 list.
0
4'000
2001 Q42002 Q42003 Q42004 Q42005 Q42006 Q42007 Q42008 Q42009 Q42010 Q42011 Q42012 Q4 M&A deal volume Deal Count
Source: Bloomberg, Credit Suisse
Important disclosures are found in the Disclosure appendix. Credit Suisse does and seeks to do business with companies covered in its research reports. As a result, investors should be