Understanding the data

  • What does Deal Dynamics data include?removeadd

    Deal Dynamics is powered by an exclusive M&A data set that includes specific information relating to regional and sectoral activity.

  • What is the source of the data?removeadd

    Hogan Lovells’ Deal Dynamics is sourced from Refinitiv’s proprietary M&A deals database which tracks changes in economic ownership at ultimate parent level in going business concerns. All deals involving a purchase of at least a 5% stake, or 3% with a value of at least US$1 million, are tracked, subject to criteria.

    For more details about how Refinitiv collects data, please reach out to the Refinitiv M&A team for a full report on M&A deal database inclusion and league table criteria.

  • What time period does the data cover?removeadd

    The data covers Q1 2010 to the present and is updated at the start of each quarter.

  • What sectors does the data cover?removeadd
    • Aerospace and defense
    • Automotive and mobility
    • Consumer
    • Diversified industrials
    • Education
    • Energy and natural resources
    • Financial institutions
    • Insurance
    • Life sciences and health care
    • Real estate
    • Technology, media, and telecommunications
  • How is the sector of a deal determined?removeadd

    The sector of a transaction is defined by the dominant industry of the target company only.

  • What regions does the data cover?removeadd
    • Africa
    • Asia-Pacific
    • Central and Eastern Europe
    • Latin America
    • Middle East
    • North America
    • Western Europe
  • How is cross-border M&A activity defined?removeadd

    Cross-border M&A is defined as any M&A activity, when the target company (or assets being sold) in the deal is not located in the same country as the acquirer ultimate parent.

  • How is domestic M&A activity defined?removeadd

    Domestic M&A activity is defined as any M&A activity, where the target company and the buyer are located in the same country.

  • How is intraregional M&A activity defined?removeadd

    Intraregional M&A is defined as any M&A activity where the target company and the buyer are located in the same region. As an example, as part of Western Europe Intraregional activity, the following activities are included: German acquisitions of French companies, UK acquisitions of UK companies, etc.

  • What is the difference between inbound and outbound activity?removeadd

    Inbound activity shows data for all cross-border M&A deals according to where the target company or target company business is located.

    Outbound activity shows data for all cross-border M&A deals according to where the buyer is located.

    In single transactions involving multinational asset sales, target nation is determined by the following hierarchy:

    1) Nation from which the most net income is derived.
    2) Nation from which the most net assets are attributed.
    3) Nation of selling parent.

Using the tool

  • How can the data be viewed?removeadd

    You can view the data in three different ways - through the interactive map, the markets view, or the sectors view. Simply select the view control in the top right of the tool. The map view displays cross-border or domestic activity at regional and country levels via an interactive heatmap; the markets view features a sortable table of geographic markets; and the sectors view shows a ranked list of industry sectors and their top five geographic markets of activity.

  • Can I view data for various quarters?removeadd

    Yes. Our data set begins in Q1 of 2010. Simply use the parameters drop-downs to select a time period.

  • Can I view total activity?removeadd

    Yes. Select “Totals” on the parameters drop-down.

  • Can I view a quarter's activity compared to its historic performance?removeadd

    Yes. You can view percentage comparisons for quarterly average, year-on-year, and quarter-on-quarter activity.

    Vs Q Avg
    The versus quarterly average control tab shows the percentage change for the selected quarter compared to the cumulative average of all quarters between Q1 2010 and the selected quarter. For example, in Q3 2018 the cumulative average would be calculated from Q1 2010 to Q2 2018. This control tab offers a powerful option for viewing the markets and sectors with the strongest or weakest performance each quarter.

    YoY
    If viewing at the quarter level, this control tab shows the year-on-year percentage change for the selected quarter against the same quarter in the previous year. For example, Q3 2018 would be compared against Q3 2017.

    If viewing at the full year level, this control tab shows the percentage change for the selected year against the prior year. For example, 2018 would be compared against 2017.

    QoQ
    This control tab shows the quarter-on-quarter percentage change for the selected quarter against the preceding quarter. For example, Q3 2018 would be compared against Q2 2018.

  • Can I view data by either the value or volume of deals?removeadd

    Yes. The value/volume control lets you see data by either transaction value or volume of deals.

  • Can I view data by either inbound or outbound activity?removeadd

    Yes. The inbound/outbound control lets you see data by either inbound or outbound activity. See above for the Deal Dynamics definition of inbound/outbound activity.

  • Can I view data by either region or country?removeadd

    Yes. The regions/countries control lets you see the data at either the regional or country level.


  • What does the map’s color coding indicate?removeadd

    The map view displays all regions and countries shaded according to the following four control panel selections:

       - Totals
       - Vs Q Avg (versus quarterly average)
       - YoY (year-on-year)
       - QoQ (quarter-on-quarter)

    The key at the bottom right corner of the map shows the range of activity (either by value or volume) according to the panel selections.

    For Vs Q Avg, YoY, and QoQ, darker shades show an increase in percentage changes of M&A activity and the lighter shades highlight lower percentage changes of activity. If you are viewing Totals, darker shades indicate greater levels of M&A activity and lighter shades indicated lesser levels of M&A activity.

Getting involved

  • Can I receive alerts when new data and articles are available on Deal Dynamics?removeadd

    Yes. Use the Subscribe form to sign-up to receive quarterly alerts with the latest data and market insights.

  • How can I contribute to Market Insights?removeadd

    If you would like to participate in one of our market interviews or contribute to our market analysis, please reach out to Sarah Shaw or Carine Stoick.

  • How can I find out more about Hogan Lovells?removeadd

    To find out more about Hogan Lovells, please visit the Contacts page, or select Our M&A capabilities or Our Private Equity capabilities for more information about our experience in these areas. Or visit hoganlovells.com.

  • How can I access the full data behind Deal Dynamics?removeadd

    For more detail regarding the league table criteria and research methodology, please contact the Refinitiv M&A team.

    For information on how to get access to Refinitiv’s Deals and League Tables, please request details here.

    For information on Refinitiv’s EIKON – Investment Banking product please request details here.

Latest activity: Q3 2019



Top three markets by value

Top three markets by volume

Top three sectors by value

Top three sectors by volume

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