U.S Mergers & Acquisitions Monthly Review: February 2023

U.S. M&A deal activity decreased in February, going down 23% with 1,066 announcements compared to 1,385 in January. However, aggregate M&A spending increased. In February 136.4% more was spent on deals compared to January.

In terms of M&A deal activity over the past three months, one sector tracked by FactSet saw an increase in deals relative to the same three-month period one year ago: Government (2 vs. 0). On the other hand, 19 of the 21 sectors tracked by FactSet saw a decrease in M&A deal activity over the past three months, relative to the same three-month period one year ago. The five sectors that witnessed the largest declines in M&A deal volume (relative to the same three-month period one year ago) were: Finance (661 vs. 1426), Technology Services (682 vs. 1172), Commercial Services (546 vs. 790), Distribution Services (198 vs. 370) and Health Services (136 vs. 295).

Topping the list of the largest deals announced in February: Newmont Corp.'s proposal to acquire Newcrest Mining Ltd., for $16.9 billion; Public Storage's bid to acquire Life Storage, Inc., for $10.9 billion; CVS Health Corp.'s agreement to acquire Oak Street Health, Inc., from General Atlantic LLC, and Newlight Partners LP for $9.5 billion; Clayton Dubilier & Rice LLC's deal to acquire Focus Financial Partners, Inc., for $4.1 billion; Globus Medical, Inc., entering an agreement to acquire NuVasive, Inc., for $3 billion.

Source: FactSet

Source: FactSet

Source: FactSet

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