U.S. Mergers & Acquisitions Monthly Review: April 2023

U.S. M&A deal activity decreased in April, going down 20.4% with 1,029 announcements compared to 1,292 in March. However, aggregate M&A spending increased. In April, 110.3% more was spent on deals compared to March.

In terms of M&A deal activity over the past three months, no sector tracked by FactSet saw an increase in deals relative to the same three-month period one year ago. On the other hand, all 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 (619 vs. 1075), Technology Services (641 vs. 916), Commercial Services (460 vs. 641), Process Industries (72 vs. 127) and Producer Manufacturing (181 vs. 233).

Topping the list of the largest deals announced in April are: Carrier Global Corp.'s agreement to acquire Viessmann Climate Solutions SE from Viessmann Group GmbH & Co KG for $13.2 billion; Extra Space Storage, Inc. entering an agreement to acquire Life Storage, Inc. for $12.4 billion; Merck & Co, Inc.'s deal to acquire Prometheus Biosciences, Inc. for $9.6 billion; Endeavor Group Holdings, Inc.'s agreement to acquire World Wrestling Entertainment, Inc. for $8.1 billion; Astellas US Holding, Inc., a subsidiary of Astellas Pharma, Inc., entering an agreement to acquire IVERIC bio, Inc. for $5.5 billion.

This blog post is for informational purposes only. The information contained in this blog post is not legal, tax, or investment advice. FactSet does not endorse or recommend any investments and assumes no liability for any consequence relating directly or indirectly to any action or inaction taken based on the information contained in this article.