Deal making activity down 33.7% YoY in first nine months: report

Overall mergers and acquisitions reached $127b (US$13.8b) year-on-year.

The overall mergers and acquisitions (M&A) activity reached $127b (US$13.8b), down 33.7% year-on-year (YoY) in the first nine months of 2022, Refinitiv, a London stock market business, revealed in its report.

According to the report, a $19.8b (US$13.8b) pending acquisition of Store Capital Corp by GIC and Oak Street Real Estate Cap is considered the biggest deal involving Singapore so far in 2022.

READ MORE: Mergers, IPOs plunge in first half of 2022

Singapore-targeted M&A activity was valued at $45.9b (US$32b), a 57.1% YoY decline from the first nine months of 2021. 

Domestic M&A totaled $16.9b (US$11.8b) so far, which fell 38.8% in the first nine months from the same period last year.

Inbound M&A activity in Singapore posted $28b (US$20.1b) worth of deals, down 63.5% in value from the first nine months of last year. 

“The United States was the most active acquiror by deal value taking up 42.6% of the market share,” Refinitiv added. 

Real estate sector dominated M&A activities in Singapore, accounting for 28.8% of market share and posted a total of $36.8b (US$25.7b), which went down by 22.6% YoY. 

Financials and Energy and Power had 23.9% and 13.8% market share, respectively. High Technology, which saw the most number of transactions represented 12.2% market share. 

$1 = US$0.70