U.S. M&A deal activity decreased in April, going down 1.6% with 940 announcements compared to 955 in March. Aggregate M&A spending decreased as well. In April 50.3% less was spent on deals compared to March.
In terms of M&A deal activity, 4 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: Technology Services (715 vs. 640), Health Technology (102 vs. 90), Miscellaneous (19 vs. 13) and Consumer Non-Durables (87 vs. 83).
On the other hand, 14 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: Finance (478 vs. 639), Commercial Services (335 vs. 470), Consumer Services (138 vs. 229), Distribution Services (97 vs. 179) and Industrial Services (179 vs. 213).
Topping the list of the largest deals announced in April are: Global Payments, Inc., agreed to acquire Worldpay, Inc., from Fidelity National Information Services, Inc., and GTCR LLC for $24.25 billion; Fidelity National Information Services, Inc., agreeing to acquire the Issuer Solutions business of Global Payments, Inc., for $13.5 billion; Thoma Bravo LP's agreement to acquire the digital aviation solutions business from The Boeing Co. for $10.55 billion; Brookfield Infrastructure Partners LP's agreement to acquire Colonial Pipeline Co. from Kohlberg Kravis Roberts & Co. LP, IFM Investors Pty Ltd., Shell Plc, the state-owned Caisse de dépôt et placement du Québec, and Koch, Inc., for $9 billion; Baker Tilly US LLP, a portfolio company of Hellman & Friedman LLC, agreeing to acquire Moss Adams LLP for a reported value of $7 billion.
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