Insight
Global coal M&A activity: October 2016
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Coal M&A spend remains at historical lows this year with only a few large size transactions concluded. However, for the few buyers able to secure assets this year, we asses deal-implied prices were struck at between US$75-101/tonne for metallurgical coal and US$48-71/tonne. With the recovery in coal prices in Q3, most of the recent deals appear to have been well-timed in the cycle.
Table of contents
- Executive summary
- Subdued M&A activity in 2016 still a long way off historical highs
- Spot prices surge above implied deal prices
- Discounts required to get deals over the line
- Operating assets favoured in bets on price recovery
Tables and charts
This report includes the following images and tables:
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Acquisition spend by regionNumber of deals by regionGlobal coal M&A activity: October 2016: Image 3
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Implied long-term (adjusted) coal price (deal by deal) vs. Argus HCC monthly averageAverage premiums/discounts paid by region compared with GEM valuationAcquisition spend by statusNumber of deals by status
What's included
This report contains:
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