Mergers and Acquisitions
Jeremy Fago is U.S. Power & Utilities Deals Leader at PwC.
Each quarter, the PwC Deals Report analyzes mergers and acquisitions activity — including all transactions of greater than fifty million dollars — for the U.S. power and utilities industry. It breaks out strategic versus financial deals, corporate versus asset deals, and inbound versus domestic deals.
Here, PUF asks PwC's U.S. Power and Utilities Deals Leader, Jeremy Fago, about the Deals Report for this year's first quarter. There were sixteen transactions in the first quarter. Total deal value declined to 7.9 billion dollars. This was the lowest value quarter since the second quarter of 2017 and the lowest first quarter since 2015.
Looking ahead to this year's second quarter, the Deals Report forecasts that renewables will continue to drive deal momentum. The basis, certain states continue to boost their renewable targets, while federal incentives phase down.
PUF's Steve Mitnick: What does this new report say?
Jeremy Fago: We saw a lot of what we expected starting to play out. In some previous reports we highlighted that we thought that we would start to see some changes in the types of deals that we're seeing.