$110.8bn: China outbound eclipses previous record

China outbound M&A has reached $110.8bn in 2016 YTD, surpassing the 2015 full year record ($106.8bn) and up almost quadruple from 2015 YTD ($27.4bn). Similarly, deal activity is up 79% year-on-year to a record 300 deals in 2016 YTD. The increase is driven by 17 $1bn+ deals in 2016 YTD for a combined total of $83.4bn, up from six $1bn+ deals worth $16.5bn in the same period last year

China leads the global cross-border M&A acquisitions for the first time on record and up from sixth place in 2015 YTD. Canada and the US follow with $67.7bn and $53.1bn, respectively

US acquisitions by Chinese firms sets new record

The US accounts for 28% of China outbound M&A with $31.3bn in 2016 YTD, up significantly from $3.9bn in 2015 YTD, and also the highest annual total on record. Tianjin Tianhai Investment Development’s $6.3bn pending bid for Ingram Micro in February is the second largest Chinese M&A into the US on record, behind Shuanghui International Holdings’ $7.1bn acquisition of Smithfield Foods in May 2013

$24.0bn: withdrawn China outbound M&A

15 Chinese outbound bids have been withdrawn* this year for a combined total of $24.0bn, up from just $1.6bn via 10 transactions in 2015 YTD and has outstripped the 2005 full year record volume ($22.0bn via nine deals)

On March 31, a consortium led by Anbang Insurance dropped its $15.5bn bid for Starwoord Hotels & Resorts Worldwide due to regulatory concerns. The deal is the second biggest withdrawn transaction by a Chinese acquiror on record, behind CNOOC’s $18.5bn bid for Unocal in June 2005

CICC leads advisor ranking for China M&A

CICC leads the China M&A advisory ranking in 2016 YTD with $82.7bn, followed by Goldman Sachs and UBS with $74.4bn and $67.8bn, respectively

*Withdrawn M&A includes deals that are withdrawn, rejected or where offer expired