Global tension dampen M&A deal activity
Corporate India's merger and acquisition activity moderated in August with 23 deals worth $845 million, the second lowest monthly deal volume till date amid ongoing global uncertainties, says a report.
New Delhi: Corporate India's merger and acquisition activity moderated in August with 23 deals worth $845 million, the second lowest monthly deal volume till date amid ongoing global uncertainties, says a report.
According to Grant Thornton's monthly M&A Dealtracker, the prevailing economic uncertainties resulted in August recording 36 per cent decline in terms of number of deals and 49 per cent fall in value terms. In August 2018, there were 36 deals worth $1,660 million.
"Owing to global trade tensions and failure to record big ticket deals during August 2018, cross-border values fell by over five times. However, on the positive side, the domestic M&A values recorded a 55 per cent increase over August 2018 on the back of encouraging measures and easing reforms," Pankaj Chopda, Director at Grant Thornton India LLP said.
