Despite potential headwinds to dealmaking activity abroad, such as the prospect of higher interest rates and uncertainty caused by fractious political events in Brexit and the Italian referendum, 2016 US deal activity in Europe was 33.5% higher than it was in 2015. The year was benefited in part by Qualcomm's (QCOM) acquisition of NXP Semiconductors (NXPI) for $47.6 billion, consuming nearly one-quarter of the year's $203 billion total. This was the largest annual total since 2007, which saw $217 billion in deal volume.Overall transaction volume was down, but this was more than offset by an 86% rise in the average deal value. Average takeout premium was approximately 30%.Sectors such as materials, consumer discretionary, information technology, and utilities saw the highest rise in deal value, increasing by triple digits in each case.(Source: S&P Global Market Intelligence)