Worldwide mergers and acquisitions activity falls 23% to $336 billion
LONDON : Worldwide mergers and acquisitions deals have fallen 23 percent to $336 billion so far this year compared with last year, but cross-border activity by amount targeting US-based companies reached a record high, Thomson Reuters data shows.
After hitting a record high by deals value in 2015 worldwide M&A activity has been hurt this year by falling oil prices worries about slowing growth in China and the health of the financial sector.
A trio of deals for US companies topped the list of M&A announced this week, including Chinese company Tianjin Tianhai’s $6.3 billion offer for US-based Ingram Micro, bringing year-to-date China outbound M&A targeting the US to $23.3 billion.
China, Ireland and Canada account for 88 percent of cross-border acquirers in the US so far this year. European M&A activity, which lagged the US in 2015 has hit $92 billion so far this year up 4 percent compared with a year ago after state-owned ChemChina announced it would buy Swiss seeds and pesticides group Syngenta for $43 billion in February. Goldman Sachs holds the top spot in the global M&A league tables followed by JPMorgan and Barclays.