U.S. M&A deal activity decreased in November, going down 24.8% with 1,012 announcements compared to 1,346 in October. Aggregate M&A spending decreased as well. In November 13.7% less was spent on deals compared to October.
In terms of M&A deal activity, 7 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 six sectors that witnessed the largest increases in M&A deal volume were: Technology Services (889 vs. 702), Commercial Services (466 vs. 409), Non-Energy Minerals (115 vs. 65), Industrial Services (241 vs. 196), Miscellaneous (23 vs. 15), and Retail Trade (99 vs. 91).
On the other hand, 13 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 (692 vs. 780), Producer Manufacturing (184 vs. 235), Distribution Services (137 vs. 187), Consumer Services (208 vs. 236) and Health Technology (100 vs. 127).
Topping the list of the largest deals announced in November are: Kimberly-Clark Corp. agreeing to acquire Kenvue, Inc. for $40.2 billion; Eaton Corp Plc's deal to acquire Aavid Thermalloy LLC from LTI Flexible Products, Inc., trading as Boyd Corp., for $9.5 billion; Akzo Nobel NV's agreement to acquire Axalta Coating Systems Ltd. for $9.2 billion; Parker-Hannifin Corp. entering an agreement to acquire Filtration Group Corp., a portfolio company of Madison Industries LLC, for $9.2 billion; Merck Sharp & Dohme LLC, a subsidiary of Merck KGaA, agreeing to acquire Cidara Therapeutics, Inc. for $6.9 billion.
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