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

U.S. M&A deal activity decreased in June, going down 5.4% with 1,171 announcements compared to 1,238 in May. Aggregate M&A spending decreased as well. In June, 6.3% less was spent on deals compared to May.

In terms of M&A deal activity, 3 of the 21 sectors that 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. 4), Health Technology (133 vs. 132) and Energy Minerals (34 vs. 33).

On the other hand, 18 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 (537 vs. 1,031), Commercial Services (459 vs. 645), Technology Services (642 vs. 819), Consumer Services (267 vs. 344) and Producer Manufacturing (200 vs. 249).

Topping the list of the largest deals announced in June are: Nasdaq, Inc., entering an agreement to acquire Adenza Group, Inc., for $10.7 billion; Bunge Ltd. agreeing to acquire Viterra Ltd. from Glencore Plc for $8.1 billion; International Business Machines Corp.'s agreement to acquire Apptio, Inc., for $4.6 billion; JS&S (Beverages), Inc., a subsidiary of John Swire & Sons Ltd., entering into sale and purchase agreement to acquire Swire Pacific Holdings, Inc., from Swire Pacific Ltd. for $3.9 billion; Optum, Inc., a subsidiary of UnitedHealth Group, Inc., agreeing to acquire Amedisys, Inc., for $3.3 billion.

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