Analysis of deal activity in 2014 revealed a lackluster year as M&A volume and value remained near ten-year lows. Despite subdued performance, we are cautiously optimistic regarding 2015 as advanced economies continue to recover and emerging and developing economies continue to grow. Looking forward, one key driver of improved activity across modes will likely be the decline in fuel costs globally. We expect these prices to provide additional capital for more M&A.
The pace of transportation and logistics transactions accelerated during the second quarter, as measured by both announced value and volume. However, 2014 is not expected to set records for mergers and acquisitions in the sector.