Four-year high for October M&A as tech deals dominate
The latest deals data from Refinitiv Deals Intelligence shows that US M&A increased for a sixth consecutive month, while Europe saw the highest M&A in October for five years. Deals in the technology sector totalled US$85.7 billion during October 2020, a monthly value only exceeded once in the last two years. Technology deals total US$474.4 billion so far during 2020, 33% more than last year and the highest year-to-date total since 2015.
October also saw the highest monthly Spac acquisition tally of all time. Spacs (special purpose acquisition companies) have struck US$98.7 billion worth of deals so far during 2020, more than the previous twelve years combined.
Bucking the trend, Asia Pacific M&A declined 4% compared to October 2019.
Lucille Jones, Deals Intelligence Analyst at Refinitiv, said: “Deals totalling US$388.2 billion were announced globally during the month of October 2020, down 20% from the previous month but marking an increase of 21% from October 2019 and the highest October total in four years. Deals worth US$1.5 trillion have been announced since July, with only 2015 seeing a stronger start to the second half since our records began in the 1970s.”