US Mergers & Acquisitions Monthly Review: August 2023

U.S. M&A deal activity increased in August, going up 7% with 1,136 announcements compared to 1,062 in July. Aggregate M&A spending increased as well. In August, 14.2% more was spent on deals compared to July.

In terms of M&A deal activity, two 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: Consumer Non-Durables (96 vs. 82) and Miscellaneous (6 vs. 5).

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 (563 vs. 960), Technology Services (626 vs. 806), Commercial Services (476 vs. 594), Consumer Services (276 vs. 353), and Health Services (129 vs. 196).

Topping the list of the largest deals announced in August are: Energy Transfer LP's agreement to acquire Crestwood Equity Partners LP for $2.7 billion; Permian Resources Corp.'s deal to acquire Earthstone Energy, Inc., for $2.6 billion; Clayton Dubilier & Rice LLC agreeing to acquire Veritiv Corp. for $2.3 billion; Campbell Soup Co.'s agreement to acquire Sovos Brands, Inc., from Advent International LP for $2.3 billion; DISH Network Corp.'s deal to acquire EchoStar Corp. for $1.8 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.