Mergers

 

NUMBER AND VALUE OF ANNOUNCED FINANCIAL SERVICES MERGERS AND ACQUISITIONS BY SECTOR, 2007-2011 (1)

($ billions)

  2007 2008 2009 2010 2011
  Deals Value Deals Value Deals Value Deals Value Deals Value
Securities (2) 222 $48.1 209 $66.3 212 $39.0 198 $11.6 176 $9.6
Specialty finance (3) 204 21.1 149 63.7 163 22.9 203 50.0 182 61.5
Banks 249 67.9 119 28.3 101 1.0 160 10.3 123 6.8
Thrifts 39 4.2 24 7.3 17 0.3 18 1.9 30 10.2
Insurance 405 33.7 436 28.8 318 10.7 385 32.6 455 51.4
     Life/health 37 6.3 36 4.5 32 1.1 39 22.3 44 5.3
     Property/casualty 71 13.9 78 16.8 70 7.6 86 7.6 85 9.8
     Brokers and agents 278 7.3 309 6.0 203 0.9 244 0.6 307 2.9
     Managed care 19 6.3 13 1.5 13 1.0 16 2.1 19 33.4
Total 1,119 $174.9 937 $194.3 811 $73.9 964 $106.3 966 $139.4

(1) All industry segments include whole and asset deals, except for banks and thrifts, which only include whole deals. Terminated deals are not included.
(2) Includes securities and investment companies, broker/dealers, and asset managers.
(3) Specialty finance firms range from small finance companies to major credit card operations.

Source: SNL Financial LC.

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NUMBER OF ANNOUNCED FINANCIAL SERVICES MERGERS AND ACQUISITIONS, 2007-2011

Source: SNL Financial LC.

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TOP TEN CROSS-INDUSTRY FINANCIAL SERVICES ACQUISITIONS ANNOUNCED IN THE UNITED STATES, 2011 (1)

($ millions)

Rank   Buyer Buyer industry Buyer country Target Target industry Seller Deal value (2)
1 Capital One Financial Corporation Bank U.S. Card and retail services business Specialty lender HSBC Holdings Plc $33,884.0
2 Express Scripts, Inc. Not classified U.S. Medco Health Solutions, Inc. Insurance underwriter Medco Health Solutions, Inc. 28,901.6
3 Capital One Financial Corporation Bank U.S. ING Bank, FSB Savings bank/thrift/mutual ING Groep N.V. 9,000.0
4 Berkshire Hathaway Inc. Insurance underwriter U.S. Lubrizol Corporation Not classified Lubrizol Corporation 8,812.5
5 KKR & Co. L.P. Asset manager U.S. Capsugel Not classified Pfizer Inc. 2,375.0
6 AXA Insurance underwriter France Portfolio of private equity funds Asset manager Citigroup Inc. 1,700.0
7 Wells Fargo & Company Bank U.S. Commercial real estate loan portfolio Specialty lender Bank of Ireland 1,137.3
8 Regions Financial Corporation Bank U.S. Credit card portfolio Specialty lender Bank of America Corporation 1,100.0
9 Walter Investment Management Corp. Investment company U.S. GTCS Holdings LLC Specialty lender Centerbridge Partners L.P. 1,047.0
10 DaVita, Inc. Insurance underwriter U.S. CDSI I Holding Company, Inc. Not classified CDSI I Holding Company, Inc. 689.2

(1) Includes whole and asset deals where the target is US domiciled. List does not include terminated deals. Buyer and target industry must be different. Only includes deals where buyer or target are financial institutions (excluding financial technology).
(2) At announcement.

Source: SNL Financial LC.

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