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U.S. M&A deal activity increased in March, up 24.7% with 909 announcements compared to 870 in February. Aggregate M&A spending also increased. In March, 18.8% more was spent on deals compared to February.

Over the past three months, the sectors that have seen the biggest increases in M&A deal activity, relative to the same three-month period one year ago, have been Consumer Durables (76 vs. 51), Process Industries (106 vs. 100), and Government (7 vs. 6). Three of the 21 sectors tracked by FactSet Mergerstat posted relative gains in deal flow over the last three months compared to the same three months one year prior.

Over the past three months, the sectors that have seen the biggest declines in M&A deal volume, relative to the same three-month period one year ago have been: Commercial Services (448 vs. 545), Retail Trade (79 vs. 139), Health Services (135 vs. 184), Finance (368 vs. 414), and Producer Manufacturing (167 vs. 196). Eighteen of the 21 sectors tracked by FactSet Mergerstat posted negative relative losses in deal flow over the last three months compared to the same three months one year prior, for a combined loss of 405 deals.

 Sector by Activity   
Target Sector L3M 3/31/17 Deal Count L3M 3/31/16 Deal Count Difference
Consumer Durables 76 51 25
Process industries 106 100 6
Government 7 6 1
Industrial Services 119 120 (1)
Communications 37 39 (2)
Non-Energy Minerals 69 73 (4)
Consumer Non-Durables 84 88 (4)
Utilities 68 72 (4)
Electronic Technology 85 89 (4)
Distribution Services 170 177 (7)
Consumer Services  215 224 (9)
Energy Minerals 36 47 (11)
Misc. 12 24 (12)
Transportation 45 62 (17)
Technology Services 469 492 (23)
Health Technology 107 133 (26)
Producer Manufacturing 167 196 (29)
Finance 368 414 (46)
Health Services 135 184 (49)
Retail Trade 79 139 (60)
Commercial Services 448 545 (97)
Total 2,902 3,275 (373)


Topping the list of the largest deals announced in March were:

  • PPG Industries, Inc.'s proposal to acquire Akzo Nobel NV for $23.8 billion
  • Intel Corp.'s, agreement to acquire Mobileye NV for $14.1 billion
  • Cenovus Energy,Inc. agreeing to acquire the remaining 50% stake not owned in FCCL Partnership from ConocoPhillips for $13.3 billion
  • KKR & Co LP and The Caisse de dépôt et placement du Québec agreeing to acquire USI Insurance Services LLC, a portfolio company of Onex Partners, in a deal valued at $4.3 billion
  • A private group led by SUEZ SA and The Caisse de dépôt et placement du Québec's agreement to acquire GE Water & Process Technologies Co from General Electric Co for in a deal valued at $3.4 billion

FactSet Flashwire Monthly Report

Read the full report for more. including:

  • Key trend information for the Overall and Middle M&A Markets, such as deal volume, deal value, mega-deals, leading buyers, leading industries, leading sectors, cross-border deals, US regional deals, average P/E, average premiums, payment methods, and much more
  • Industry reports on the Internet, Telecommunications, Healthcare, Banking, and much more
  • Special reports on technology, the public and private M&A markets, cancellation fees, industry activity, etc.
  • Leading financial and legal advisor rankings 
Download the latest Flashwire Report
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