U.S. M&A deal activity increased in January, going up 1.4% with 1,327 announcements compared to 1,309 in December. However, aggregate M&A spending decreased. In January, 68.4% less was spent on deals compared to December.
In terms of M&A deal activity, 11 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. The five sectors that witnessed the largest increases in M&A deal volume were: Technology Services (834 vs. 735), Non-Energy Minerals (109 vs. 69), Industrial Services (259 vs. 220), Commercial Services (460 vs. 424), and Consumer Non-Durables (111 vs. 79).
On the other hand, 10 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 decreases in M&A deal volume were: Finance (721 vs. 831), Producer Manufacturing (192 vs. 218), Health Technology (103 vs. 127), Distribution Services (138 vs. 161), and Consumer Services (188 vs. 205).
Topping the list of the largest deals announced in January are: Boston Scientific Corp.'s definitive agreement to acquire Penumbra, Inc. for $14.6 billion; a private group led by Tidemark Management Co. LP, General Atlantic LLC and HgCapital LLP entering into an agreement to acquire OneStream, Inc. for $5.9 billion; Mitsubishi Corp.'s agreement to acquire Aethon III LLC, Aethon United LP, and Aethon III Blocker LLC from Aethon Energy Management LLC for $5.2 billion; Capital One Financial Corp.'s deal to acquire Brex, Inc. for $5.2 billion; Vistra Corp.'s agreement to acquire Cogentrix Energy Power Management LLC from Quantum Capital Group LLC for $3.2 billion.
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