WTW - M&A optimism takes firmer hold as momentum continues to build | Benzinga
NEW YORK, July 11, 2024 (GLOBE NEWSWIRE) -- Global mergers and acquisitions (M&A) activity maintains the positive momentum achieved at the start of 2024, with deals completed during the second quarter improving upon the same period last year, according to research from leading global advisory, broking and solutions company WTW's (NASDAQ:WTW) Quarterly Deal Performance Monitor (QDPM).
Run in partnership with the M&A Research Centre at Bayes Business School, the data reveal that 166 deals valued over $100 million were completed globally during the second quarter of 2024, exactly matching the number of deals closed in the first three months of the year. The second-quarter figure surpasses the 130 deals closed during the same period in 2023, representing a 28% increase in volume.
The 35 large deals (valued over $1 billion) completed in the second quarter of 2024 represent the third quarterly rise in a row, following 34 deals closed in the first three months of 2024 and 32 during the previous quarter. Also, with four mega deals (valued over $10 billion) completed in the second quarter of 2024, a total of nine mega deals have been closed so far this year, compared with just three during the first six months of 2023.
Acquisitions completed within the same industry sector (intra-sector deals) have been rising as a proportion of overall M&A, compared with cross-sector acquisitions. Since the start of 2023 intra-sector acquisitions have increased from 57% of the total in the first quarter of 2023 to 74% in the latest quarter. This indicates a trend for sellers carving off non-core assets and buyers seeking deals closer to home in order to consolidate their own markets.
"If the first half of 2024 is any indication, dealmaking may be on the verge of returning to pre-COVID levels and deal behavior," said David Dean, managing director, Mergers and Acquisitions, ...