M&A value dips 52.7% to $4.3 billion

New Delhi: Corporate India announced merger and acquisition deals worth $4.3 billion in July, down by 52.74 per cent compared to the year-ago period amid a subdued global growth and rising geo-political tensions, a report said on Monday.

According to Grant Thornton's monthly M&A Dealtracker, as many as 39 deals worth $4.3 billion were reported in July against 49 transactions worth $9.1 billion in the year-ago period.

"Subdued global growth, the continued Brexit-related uncertainty and the rising geopolitical tensions roiling energy prices, affected the overall deal sentiment," the report noted.

The report noted that though M&A values declined more than half as compared to July 2018, the month recorded significant rise in the deal values as compared to the previous month (June 2019), demonstrating a revival in the deal sentiment among the deal makers.

"Headwinds seen in the financial services space and slowdown in the core sectors have affected the M&A deal space," said Pankaj Chopda, Director, Grant Thornton India LLP.