U.S. Mergers & Acquisitions Monthly Review: November 2024

U.S. M&A deal activity decreased in November, going down 26.8% with 943 announcements compared to 1,288 in October. Aggregate M&A spending decreased as well. In November 9.3% less was spent on deals compared to October.

In terms of M&A deal activity, 6 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: Health Technology (130 vs. 110), Technology Services (668 vs. 656), Miscellaneous (11 vs. 6), Energy Minerals (31 vs. 28), Consumer Non-Durables (81 vs. 79) and Non-Energy Minerals (56 vs. 54).

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: Commercial Services (392 vs. 541), Finance (618 vs. 675), Industrial Services (182 vs. 239), Consumer Services (214 vs. 253) and Distribution Services (179 vs. 212).

Topping the list of the largest deals announced in November are: Amcor Plc agreeing to acquire Berry Global Group, Inc. for $8.5 billion; QUIKRETE Holdings, Inc., a subsidiary of THE QUIKRETE Cos. LLC, agreeing to acquire Summit Materials, Inc. for $9.2 billion; Blackstone, Inc.'s deal to acquire an undisclosed majority stake in A Sub Above LLC, doing business as Jersey Mike's Subs, for a reported $8 billion; Emerson Electric Co.'s proposal to acquire the remaining 42.6% stake in Aspen Technology, Inc. for $6.5 billion; Cencora, Inc. entering an agreement to acquire Retina Group, Inc., trading as Retina Consultants of America and a portfolio company of Webster Equity Partners LLC, for $5.1 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.