M&A monitor
Global M&A – value and volume
Global**
M&A value
$3,855.04bn
M&A deal volume
41,004
Top 3 deals
1
$68.7bn
Activision Blizzard Inc / Microsoft Corp
2
$68.3bn
VMware Inc / Broadcom Inc
3
$60.4bn
Housing Development Finance Corp Ltd / HDFC Bank Ltd
Inbound:
most targated markets
US
10,215 deals
◂$1,732.2bn
UK
3,185 deals
◂$386.7bn
China (Mainland)
3,719 deals
◂$272.8bn
Outbound:
most acquisitive markets
US
11,250 deals
▸$1,875.2bn
UK
2,901 deals
▸$330.5bn
China (Mainland)
3,630 deals
▸$257.3bn
USA**†
M&A value
$1,732.24bn
M&A deal volume
10,215
Top 3 deals
1
$68.7bn
Activision Blizzard Inc / Microsoft Corp
2
$68.3bn
VMware Inc / Broadcom Inc
3
$40.2bn
Twitter Inc / X Holdings I Inc
Inbound:
markets investing into
US companies
US
8,387 deals
◂$1,526bn
Canada
336 deals
◂$37.7bn
UK
259 deals
◂$25.6bn
Outbound:
markets US companies are
investing into
US
8,387 deals
▸$1,526bn
UK
537 deals
▸$72.1bn
Germany
177 deals
▸$34.7bn
Europe**†
M&A value
$958.44bn
M&A deal volume
12,892
Top 3 deals
1
$52.1bn
Atlantia SpA / Schemaquarantatre SpA
2
$20.7bn
Firmenich International SA / Koninklijke DSM NV
3
$17.2bn
Swedish Match AB / Philip Morris Investments BV
Inbound:
markets investing into
European companies
UK
2,310 deals
◂$269.2bn
US
1,600 deals
◂$192bn
Italy
568 deals
◂$65.1bn
Outbound:
markets European companies
are investing into
UK
2,183 deals
▸$257.1bn
US
761 deals
▸$88.1bn
Italy
677 deals
▸$72bn
APAC**†
M&A value
$832.28bn
M&A deal volume
13,432
Top 3 deals
1
$60.4bn
Housing Development Finance Corp Ltd / HDFC Bank Ltd
2
$22.1bn
Ramsay Health Care Ltd / Investor Group
3
$7.5bn
Baring Private Equity Asia Ltd / EQT AB
Inbound:
markets investing into
APAC companies
China (Mainland)
3,383 deals
◂$241.4bn
Japan
3,324 deals
◂$113bn
US
706 deals
◂$110.3bn
Outbound:
markets APAC companies
are investing into
China (Mainland)
3,488 deals
▸$240.5bn
India
1,171 deals
▸$113.8bn
Japan
3,162 deals
▸$108bn
** Deal value includes net debt of target | † Includes domestic deals | Source: Refinitiv | Data correct to 3/1/23
Financial sponsor M&A – top 3 deals with buyside financial sponsor involvement
1
$52.1bn
▾
Atlantia SpA / Schemaquarantatre SpA
2
$22.1bn
▾
Ramsay Health Care Ltd / Investor Group
3
$16.4bn
▾
Citrix Systems, Inc / Investor Group
Our team
Arun Balasubramanian Partner
Hong Kong, Singapore
Dr. Heiner Braun Partner
Frankfurt am Main
Kate Cooper Partner
London
Sebastian L. Fain Partner
New York
Pervez Akhtar Partner
Dubai
Robert Ashworth Partner
Hong Kong
Nicola Asti Partner
Milan
Guy Benda Partner
Paris
Alexander Doorman Partner
Amsterdam
Dr. Konrad Gröller Partner
Vienna
Dr. Wessel Heukamp Partner
Munich
Andrew Hutchings Partner
London
Vincent Macq Partner
Brussels
Takeshi Nakao Partner
Tokyo
Julian Pritchard Partner
London
Simon Weller Partner
Singapore, Hong Kong
