U.S. M&A deal activity decreased in July, going down 23.7% with 969 announcements compared to 1,270 in June. Aggregate M&A spending decreased as well. In July, 29.2% less was spent on deals compared to June.
In terms of M&A deal activity, only one of the 21 sectors FactSet tracks saw an increase in M&A deal activity over the past three months relative to the same three-month period one year ago: Miscellaneous (7 vs. 6).
On the other hand, 18 of the 21 sectors FactSet tracks saw a decrease in M&A deal activity over the past three months relative to the same three-month period one year ago. The four sectors that witnessed the largest declines in M&A deal volume were: Finance (550 vs. 966), Commercial Services (462 vs. 624), Technology Services (630 vs. 790), and Consumer Services (265 vs. 342).
Topping the list of the largest deals announced in July are: GTCR LLC agreeing to acquire a 55% majority stake in Worldpay, Inc., from Fidelity National Information Services, Inc., for $12.7 billion; Biogen, Inc.'s, agreement to acquire Reata Pharmaceuticals, Inc., for $6.53 billion; A private group led by Francisco Partners Management LP and TPG Capital LLC agreeing to acquire New Relic, Inc., for $6.1 billion; Exxon Mobil Corp.'s deal to acquire Denbury, Inc., for $4.5 billion; Global Infrastructure Management LLC's agreement to acquire a 40% stake in Columbia Pipeline Group, Inc.'s Columbia Gulf and Columbia Gas Transmission assets for US$3.9 billion.
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