In the first quarter of 2018, the total amount of global M & A transactions was USD24 billion, an increase of 17% over the first quarter of 2017. The average transaction size jumped 65% in the first quarter, about USD 227 million. The Carlyle Group bought AKZO NOBEL′s professional chemical business for USD12.6 billion, which was the biggest deal in the quarter, taking up 52% of the first quarter′s total, followed by a USD 2.25 billion acquisition of A Schulman in Liane Basel, and Givaudan planned to purchase natural raw material supplier Naturex of France by USD 1.545 billion. Although most of the transactions were active in Asia and Oceania, North America has contributed more and more to the value of acquisitions. North America accounted for 66% of the value of the transaction in the first quarter. Specialty chemicals accounted for 92% of the transaction value and 52% of the transaction volume in the quarter.