Global M&A activity surges toward record high
Get Alerts PCP Hot Sheet
Join SI Premium – FREE
LONDON (Reuters) - Global mergers and acquisitions (M&A) have climbed close to a record high this year, accelerated by a trio of multibillion-dollar deals in the U.S., Thomson Reuters data showed.
The largest of these was Warren Buffet's $30 billion-plus purchase of Precision Castparts (NYSE: PCP), announced on Monday. The takeover is the biggest by Buffet's Berkshire Hathaway
So far this year, $2.9 trillion in deals have been announced globally, only 3 percent below the $3 trillion record peak in 2007.
Domestic M&A in the U.S. has reached a total of $1.4 trillion, a 62 percent increase on this time last year.
Acquisitions of U.S. companies account for almost half of the total worldwide value of deals in dollars terms.
In the Asia Pacific region, dealmaking is off to its best start for the year since records began, outpacing Europe for the first time and making up 23 percent of global dealmaking.
But on Tuesday, the Chinese central bank devalued its currency, causing volatility across global financial markets.
It is unclear yet whether these measures, coupled with a slowdown in China, could diminish the appetite for takeovers in the region.
(Reporting by Emiliano Mellino. Editing by Jane Merriman)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Exclusive-Anglo American does not find BHP $39 billion offer attractive
- Seritage Growth Properties (SRG) Makes $50M Loan Prepayment
- Warren Buffet's Berkshire stock target raised at UBS into earnings
Create E-mail Alert Related Categories
Mergers and Acquisitions, ReutersRelated Entities
Warren Buffett, Merriman Curhan FordSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!