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

U.S. M&A deal activity increased in October, going up 8.5% with 1,219 announcements compared to 1,124 in September. Aggregate M&A spending increased as well. In October, 96% more was spent on deals compared to September.

In terms of M&A deal activity, only one 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: Energy Minerals (30 vs. 28).

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: Technology Services (619 vs. 849), Finance (604 vs. 771), Consumer Services (220 vs. 324), Commercial Services (520 vs. 603) and Health Services (133 vs. 175).

Topping the list of the largest deals announced in October are: Exxon Mobil Corp.'s agreement to acquire Pioneer Natural Resources Co. for $59.9 billion; Chevron Corp.'s deal to acquire Hess Corp. for $52.5 billion; Choice Hotels International, Inc.'s, offer to acquire Wyndham Hotels & Resorts, Inc., for $7.5 billion; Realty Income Corp. agreeing to acquire Spirit Realty Capital, Inc., for $5.3 billion; Roche Holding AG agreeing to acquire Telavant Holdings, Inc., from Roivant Sciences Ltd. and Pfizer, Inc., for $7.3 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.