India’s M&A Deal Value Drops 34% To $1.24 Billion In February
The value of merger and acquisition deals in February slumped 34 percent to $1.24 billion compared to the year-ago period, according to a report.
Grant Thornton’s report showed that number of M&A transactions last month rose marginally to 44, compared to 40 in February 2018.
In February last year, the total value of M&A transactions had touched $1.9 billion.
While February 2019 recorded same number of deals valued and estimated at over $100 million as witnessed in February 2018, the high-valued deals totalled to only $0.9 billion compared to $1.5 billion in February 2018.Grant Thornton’s Report
Pankaj Chopda, director, Grant Thornton India LLP, said the shortening of the run-up period to the national election will only deepen the wait-and-watch approach in the deal environment in the short term and much is expected post the results of the general election.
Regarding last month, he noted that M&A transactions were dominated by cross-border transactions as against a mix of cross-border and merger transactions in the same period a year ago.
“The month of February recorded the highest volumes in seven months, demonstrating the strong urge to expand outside local territory surpassing global headwinds,” he added.