In an otherwise stagnant quarter for global M&A activity, one large transaction lifted third-quarter deal value by 40 percent over last quarter.
In an otherwise stagnant quarter for global M&A activity, one large transaction lifted third-quarter deal value by 40 percent over last quarter. Deal volume remained identical at 17 transactions. Without this major deal, overall global deal value would have declined by $2.2 billion quarter-overquarter.
The $5.4 billion friendly offer was large enough to determine the quarter’s top acquiring country by deal value (Russia at 49 percent), top target (UK at 54 percent) and leading commodity (gold at 56 percent). Canada, Brazil and Australia were also active countries, while copper, iron ore and coal were other active commodities. The business environment for mining deteriorated again this quarter as share prices plunged over 17 percent for the gold index and over 20 percent for the broader mining index. The price of copper also suffered a double-digit drop (10.2 percent).