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Metal Deals - Annual review 2008
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April 2009
Metals Deals: Forging Ahead Annual Review 2008
Merger and acquisitions activity in the global metals industry
After forging ahead in previous years, metals industry deal-making fell away sharply in 2008 as world demand fell and prices plummeted. The year saw a dramatic and sudden about-turn in the environment for deals. Optimism that China would continue to compensate for downturns elsewhere was replaced by increasing concern about a weakening in global demand, including China.
The momentum for deal activity followed a similar pattern as the credit crisis intensified and the full scale of the global downturn, affecting metal-consuming industries such as construction and the automotive sector, was realised.
As a result of falling deal sizes, while total deal activity was only just short of the 2007 level, aggregate deal value fell 58%, from a record-breaking US$144.7bn in 2007 to US$60.6bn in 2008.
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