NEW YORK/LONDON – 27 June 2024: Mergermarket, an ION Analytics service, reports a resurgence in large-cap strategic M&A in 1H24, marked by a comeback in listed dealmaking, notably in the US and UK. This is according to Mergermarket’s 1H24 M&A Highlights report published today, which reveals key trends in the M&A landscape and offers invaluable insights for strategic decision-making. As the premier provider of global proprietary M&A intelligence, data, and AI-driven predictive analytics, Mergermarket is the go-to resource for capital markets participants.

The 1H24 M&A Highlights report offers a comprehensive analysis of global trends, dealmaking hotspots with detailed insights on global, regional, and sector activity. It notes that corporates accounted for 73% of deal value in 1H24, a level not seen since before the Covid-19 pandemic. In 2Q24, PE activity surged with buyouts up 81.3%, driven by larger PE buyouts and more public-to-private transactions emerging in early dealmaking stages. PE exits and entries remained slow, focusing on high-quality assets.

Sector-driven M&A, influenced by global trends, saw significant activity in the US oil and gas sector with major deals like Marathon Oil hitting the headlines. Tech M&A was also strong, with substantial interest in generative AI companies as firms rushed to sweep up talent and transformative assets.

Further insights from the Highlights report reveal:

• Global M&A volume grew 17% to USD 1.6 trillion in 1H24, with corporate buyers accounting for 73% of deal volume, and 20 megadeals announced.
• North America’s deal volume reached USD 864 billion, up 33% from 1H23, contributed 57% in deal volume to global M&A and included Capital One’s USD 35.3 billion acquisition of Discover Financial and other significant deals in oil and gas.
• EMEA M&A volume grew 33% to USD 438 billion in 1H24, driven by 41 large deals (>USD 2bn), with notable activity in the UK and technology sector, and a rise in buyout activity.
• APAC M&A volume slowed in 1H24, down 26% from 1H23. China lost its second position worldwide, while delistings and take-private deals rose. India drove a telecom M&A rebound, with dealmaking up 58% year-on-year.
• Financial sponsor activity surged 36% to USD 281 billion in 1H24, driven by tech sector buyouts.

Lucinda Guthrie, Head of Mergermarket, says, “It has been an incredibly exciting 1H for M&A, with the return of large-cap listed dealmaking, hitting the headlines around the world from the US and UK to Hong Kong and Australia. A resurgence in North American dealmaking led to an increase in overall deal volume, as large corporations have capitalized on this period of relative stability to spur growth and address declining share prices.”

“Dealmaking in Asia Pacific was hit by an overall slowdown, but a hot area to watch is Indian TMT M&A, which is behind a rebound in telco deals across the region. With upcoming elections worldwide, sectors with strong global tailwinds are expected to sustain dealmaking activity throughout the rest of the year,” she adds.

To request the full report and additional 1H24 highlights, including our ECM, LevFin, Bonds and Loans reports, click here.