September Edition 2020

45 According to Mergermarket's Global & Regional M&A Report, deal volume dropped from 4,308 deals in 1Q20 to 2,630 in 2Q20 and deal values plummeted to USD 308.9bn from USD 592.6bn in the previous quarter. Contrasting 1H20 to 1H19, deal volume fell 32% (6,938 vs. 10,155 transactions), while deal values declined 52.7% (USD 901.6bn compared to USD 1,907.5bn). In line with the global M&A activity, Israeli deal value slumped by 56% in the first half of 2020 due to the COVID-19 pandemic. A total of USD 3.6bn was recorded across 41 deals, 21 fewer deals compared to the same period last year (USD 8.2bn and 62 deals) and the lowest first half-year value the country has seen since 1H12. Despite travel restrictions globally, inbound activity in Israel contributed 94% of the overall M&A value of the country with 31 deals worth a combined USD 3.4bn. However, compared to 1H19 (USD 6.7bn and 33 deals), the value of foreign investment decreased by half while the deal count remained almost unchanged. Most inbound investments were made by US-based companies, with 22 deals worth USD 3bn. H1 2020 M&A Report