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

U.S. M&A deal activity increased in September, going up 4.6% with 986 announcements compared to 943 in August. Aggregate M&A spending increased as well. In September 9.3% more was spent on deals compared to August.

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. The five sectors that witnessed the largest increases in M&A deal volume were: Technology Services (658 vs. 628), Health Technology (115 vs. 97), Electronic Technology (72 vs. 64), Miscellaneous (10 vs. 3) and Consumer Non-Durables (87 vs. 84).

On the other hand, 15 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 (479 vs. 678), Commercial Services (357 vs. 497), Consumer Services (193 vs. 271), Retail Trade (83 vs. 140) and Industrial Services (197 vs. 240).

Topping the list of the largest deals announced in September are: Verizon Communications, Inc. agreeing to acquire Frontier Communications Parent, Inc. for $9.6 billion; QXO, Inc.'s proposal to acquire Rexel SA for $9.4 billion; Charter Communications, Inc.'s offer to acquire the remaining 68% stake in Liberty Broadband Corp. for $7.3 billion; Marsh & McLennan Agency LLC, a subsidiary of Marsh & McLennan Cos., Inc., entering an agreement to acquire McGriff Insurance Services LLC from Truist Insurance Holdings LLC for $7.75 billion; TPG Capital LLC's deal to acquire the remaining 70% not owned in DIRECTV Entertainment Holdings LLC from AT&T, Inc. for $7.6 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.