M&A activity in the global steel industry
A reader called NanoSteel posted a comment recently asking if we knew the total value of M&A activity in the global steel industry for 2007. One source is an annual publication by PWC which compiles transactions in the global metals industry.
According to the PWC there were 249 deals in the global steel industry in 2007 worth $61 billion. Comparable numbers for 2006 were 236 deals worth $79 billion. So more deals, but on average smaller deals. This is consistent with what we observed last year - consolidators continue to be active but many of the most obvious first stage deals have been done and the next stage of deals will be more creative and reach further into the undergrowth of the global industry.
