Worldwide M&A activity falls 23 percent, but U.S. has a flurry
Workers walk past an office building of Syngenta in Changping district of Beijing, China, February 4, 2016. REUTERS/Stringer
By Anjuli Davies
LONDON (Reuters) - Worldwide mergers and acquisitions deals have fallen 23 percent to $336 billion so far this year compared with last year, but cross-border activity by amount targeting U.S.-based companies reached a record high, Thomson Reuters data shows.
After hitting a record high by deals value in 2015, worldwide M&A activity has been hurt this year by falling oil prices, worries about slowing growth in China and the health of the financial sector.
A trio of deals for U.S. companies topped the list of M&A announced this week, including Chinese company Tianjin Tianhai’s $6.3 billion offer for U.S.-based Ingram Micro, bringing year-to-date China outbound M&A targeting the U.S. to $23.3 billion.
China, Ireland and Canada account for 88 percent of cross-border acquirers in the U.S. so far this year.
European M&A activity, which lagged the U.S. in 2015, has hit $92 billion so far this year, up 4 percent compared with a year ago, after state-owned ChemChina announced it would buy Swiss seeds and pesticides group Syngenta
Goldman Sachs (NYSE: GS) holds the top spot in the global M&A league tables followed by JPMorgan (NYSE: JPM) and Barclays
<< And http://trmcs-documents.s3.amazonaws.com/3501ec8eae589bfbef9cc1729a7312f0_20160219092558_Weekly%20Scorecard%20Template%20021816.pdf >>> (Reporting By Anjuli Davies)
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