Merger and acquisition (M&A) deals in the first 10 months of this year amounted to $33.6 billion, a fall of more than 21% from the year-ago period, said a report by global consultancy firm Grant Thornton.
According to the company’s latest Dealtracker report, India Inc announced M&A deals worth $92 million in October, taking the year-to-date tally to $33.6 billion.
The transactions were worth $42.9 billion in the same period last year.
“For the first 10 months of the year, the values are significantly higher than 2009 and 2008, but lower than 2010,” said Srividya C G, Grant Thornton India partner and practice leader.
For October, India Inc’s M&A activity has been “stable,” Srividya said, adding “very few large deals have been announced during this month. There has been no deal with value over half a billion and only four deals valued at $100 million plus.”
Inbound deals wherein foreign entities merged with or acquired Indian businesses were the flavour of the month.
There were 13 deals worth $691 million in this category against seven transactions valued at $103 million in 2010.
There were five outbound deals worth $109 million against 18 transactions valued at $377 million in 2010.
The total value of domestic deals in October was $192 million (39 deals), compared to $40 million (20 deals) in the corresponding month of 2010.
A sector-wise analysis showed that manufacturing was the sector that accounted for the maximum deal value, followed by pharma & healthcare, IT & ITeS and media and entertainment in October.
The top five deals accounted for 79% of the total M&A deal values.