Press room

PricewaterhouseCoopers survey indicates divestiture market is poised for increased activity
Private and public companies surveyed by PwC expect same or increased level of divestitures in today’s “Buyer’s market”. Majority of respondents note increasing complexity in completing divestures and cite corporate buyers as being most active
IPO Watch Q3 2009 Press Release - Third quarter 2009 IPO market strongest since first quarter of 2008
In the third quarter of 2009, United States initial public offerings (IPOs) recorded the highest quarterly proceeds and number of deals since the first quarter of 2008, with 20 offerings that raised $5.8 billion. According to PricewaterhouseCoopers’ Transaction Services practice, the IPO market appears to be working through a solid recovery.
IPO Watch Q2 2009 Press Release - Second quarter IPO market records first increase in activity since 2007
Unstable capital markets drive a 67% decline in offerings for first half of 2009
US M&A Mid-year Outlook 2009: Merger and acquisition environment to be one of high risk, high reward for remainder of 2009
Middle market deals dominate deal flow. Rigorous due diligence will be key for dealmakers preparing for the uptick.
TS insights: Goodwill impairment implications in the current market turmoil
Goodwill impairment announcements have had minimal impact on share price. More goodwill impairment announcements likely around the corner.
PricewaterhouseCoopers US IPO Watch report:
2008 IPO market experienced lowest activity in 30 years despite largest offering in history. Lack of financial sponsored-backed and non-US issuers IPOs amidst challenging markets stifled deal flow; IPO activity could return by late 2009
2009 M&A activity to be fueled by 'merger of necessity'
Financing continues to be a challenge while distressed opportunities across industries are available for interested buyers. Innovation will be key for private equity as the industry evolves in the new climate.
PricewaterhouseCoopers US IPO Quarterly Report: US IPO activity on hold as crisis in the financial sector continues
Financial sponsored-backed IPOs and SPACs decrease to a trickle while non-US issuers stay away

The number of initial public offerings (IPOs) in the United States (US) has declined for three straight quarters as volatility in the US economy continues unabated. For the first nine months of 2008, there were 54 IPOs that raised $31.2 billion, a significant drop from the 195 offerings that generated $44.7 billion for the same period in 2007. When the $17.8 billion VISA IPO is excluded from the 2008 results, IPO value for the first nine months was just $13.3 billion.

IPO activity for the third quarter of 2008 was the most sluggish third quarter performance since 2002. US IPO activity for the first three quarters of 2008 was hampered by the prolonged volatility in the equity markets and the crisis in the credit markets--deterring non-US issuers and causing planned IPOs to be postponed or withdrawn, SPACs to lose their momentum and financial sponsors to hold on to their portfolios for a bit longer.
PricewaterhouseCoopers M&A insights report: Continued instability in the financial services industry hampers deal activity
A flurry of unsettling events in the financial services sector has slowed deal activity in the United States (US) financial services industry. For the first six months of 2008, there were 375 financial services deals (disclosed and non-disclosed), a 29 percent decline in deal volume from the same period last year and a 26 percent drop from the second half of 2007 (Thomson Reuters).
2Q 2008 US IPO Report: US IPO activity dwindles amid market uncertainty
After a robust year of IPO (initial public offering) activity in 2007, the number of listings in the United States (US) shrank in the first half of 2008. For the first six months of 2008, 42 IPOs raised $29.3 billion compared with 147 IPOs that amassed $32.8 billion for the same period last year. IPO volume (number of deals) for the first half of the year plunged more than 71 percent from the same period in 2007. While IPO value seemed relatively stable, the $17.9 billion VISA IPO skewed the amount of proceeds raised for the first half of 2008. Excluding the VISA IPO, the proceeds raised for the first half of 2008 were $11.4 billion, a third of the corresponding 2007 amount.
US mid-year outlook: Private equity firms reinvent themselves in challenging credit environment
Inbound M&A activity recovering and getting stronger
In the current credit market where access to syndicated loans to finance large transactions is limited, private equity firms look for alternatives ways to deploy capital, focusing on distressed investing, private investments in public entities (PIPEs), partnering with corporate buyers and minority investments. Inbound investments into the United States will continue for the remainder of the year and accelerate into 2009, according to the Transaction Services group of PricewaterhouseCoopers.
IPO Watch 2007 annual press release
US IPO Watch is an annual report consisting of analysis and trends of IPOs listed on US exchanges. Topics covered typically include analysis of Top 10 IPOs, quarterly analysis, IPOs by industry, financial sponsor-backed IPOs, IPOs by exchange and a global perspective on how the US IPO market compares to the global market. Throughout the report, we identify factors that are creating attractive IPO candidates. Clients may find the analysis insightful and useful as they evaluate their own IPO readiness over the next 12 months.