Mission control: Second-quarter 2014 aerospace and defense industry mergers and acquisitions analysis
At a glance
An uptick in mega deals and the ongoing interest in divested assets and private equity backed businesses, propelled aerospace & defense M&A second quarter value to the highest quarterly total in three years.
Welcome to Mission Control, PwC's quarterly analysis of merger and acquisition (M&A) activity in the global aerospace & defense sector that provides an overview of the most recent M&A results and our expectations for future deal activity.
Highlights of what this quarter's analysis revealed:
Deal activity continued to rebound from 2013, particularly when measured by deal value.
Acquirers are engaging in larger transactions, including four mega-deal announcements so far this year.
Aerospace M&A remains robust. And while deal making on the defense side of the sector has not been quite as strong, defense M&A has normalized.
The majority of deals so far in 2014 have been acquisitions of subsidiaries of strategics, or portfolio companies of financials, rather than standalone strategics.
Cross-border deals are on pace for their strongest year since 2007.