2016年全球化工并购展望报告.pdf

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1、2016GlobalchemicalindustrymergersandacquisitionsoutlookAquestforfocusJanuary20162Contents4Globalactivity8Mergersandacquisitionsactivitybychemicalsegment11Chemicalmergersandacquisitionsactivityinkeygeographies16Summaryoutlookfor2016mergersandacquisitionsa

2、ctivity17Contacts18Acknowledgements19Endnotes2016Globalchemicalindustrymergersandacquisitionsoutlook—Aquestforfocus3GlobalactivityIntheDeloitteToucheTohmatsuLimited(Deloitte2016forecastshaveseenrecentdownwardrevisionsbyGlobal)2015Globalchemicalindustryme

3、rgersandboththeInternationalMonetaryFundandWorldBank.5acquisitionsoutlook,recordlevelsofchemicalmergersandacquisitions(M&A)activityin2014wereobserved,ThesevariousmarketanddemandfactorshaveputwithapredictionthatstrongM&Amomentumwouldpressureonglobalchemic

4、alrevenues,aswellastheirstockcontinueintheindustryinto2015.1Whilethenumberperformance.BasedonaDeloitteGlobalanalysis,theofglobalchemicaldealswasrelativelyflatin2015,thecomponentsoftheDowJonesChemicalTitans30IndexstrongM&Amomentumhascontinuedwiththenumber

5、experiencedaveragerevenueincreaseofonly0.3percentofglobalchemicaldealsin2015exceedingthepreviousinthelatesttwelvemonthsof2015,comparedto3.3six-yearaveragebyover6percent(seeFigure1).Also,thepercentin2014.totalglobaldealvalueissettingnewrecordsdrivenbythe1

6、6dealsvaluedatoverUS$1billionannouncedduringThesechallengeshavecontributedtomanyglobaltheyear,includingtheproposedUS$73billionDowandchemicalcompanies’effortstofocusontheircoreDuPontdeal.2strengthsinordertodriverevenuegrowthandshareholdervalue.Whilechemic

7、alcompanieshavebeenrealigningIn2015,theyearbeganwithplentyofuncertaintyrelatedtheirportfoliosoverthepastyearstoreducecomplexitytokeyfeedstockvolatility,asoilpricesexperienceda50intheirbusinessesandmakethemeasierforinvestorstopercentdecreaseinthesecondhal

8、fof2014.3Oilpricesunderstand,therewasanincreasingemphasisobservedcontinuedtheirdecreasein2015asthespotpriceforbothonbuildingtheircorebusinessesthatunderpinned2015WestTexasIntermediate(WTI)andBrentcrudeoilfinishedM&Aactivit