U.S. M&A deal activity decreased in November, going down 15.3% with 1,073 announcements compared to 1,267 in October. Aggregate M&A spending decreased as well. In November, 56.1% less was spent on deals compared to October.
In terms of M&A deal activity, 5 of the 21 sectors tracked by FactSet saw an increase in M&A deal activity over the past three months relative to the same three-month period one year ago: Producer Manufacturing (212 vs. 199), Industrial Services (213 vs. 202), Electronic Technology (76 vs. 70), Energy Minerals (28 vs. 24) and Miscellaneous (5 vs. 4).
On the other hand, 15 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 were: Technology Services (610 vs. 809), Finance (572 vs. 702), Commercial Services (519 vs. 607), Consumer Services (220 vs. 299) and Health Services (131 vs. 181).
Topping the list of the largest deals announced in November are: A private group led by the families of Dr. Miriam Adelson, along with Las Vegas Sands Corp.'s president and COO Patrick Dumont agreeing to acquire an undisclosed majority stake in Dallas Basketball Ltd. for a reported value of $3.5 billion; KKR & Co, Inc.'s agreement to acquire the remaining 36.7% minority stake in Global Atlantic Financial Co. for $2.7 billion; Novant Health, Inc.'s deal to acquire the business and assets related to three South Carolina Hospitals from Tenet Healthcare Corp. for $2.4 billion; Cedar Fair LP's agreement to acquire Six Flags Entertainment Corp. for $1.8 billion; Colt CZ Group SE's proposal to acquire the remaining 97.64% stake not owned in Vista Outdoor, Inc. for $1.7 billion.
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