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M&A deals best during Q4 of 09
Thursday, 21 January 2010, 15:19 IST
Bangalore: The fourth quarter (October-November period) of calendar year 2009 was the best quarter for mergers and acquisitions (M&A) deals in India last year, according to a study by Ernst and Young. During the period, the total disclosed deal value was $8.4 billion, reflecting an increase of 28 percent from the comparable period previous year, reports Financial Chronicle.
The deal count also witnessed a similar trend and increased by 33.1 percent to 189 deals in the fourth quarter against 142 deals in the same period in 2008. According to the study, the global economic environment has revitalized in the fourth quarter of 2009, with visible signs that the worst of the global financial crisis is finally getting over.
India, particularly, is experiencing better economic conditions at present. Indicators such as improved GDP numbers, stability in the business environment and an impressive recovery in the Indian stock markets point toward the return of confidence in India Inc. "This is also reflected in the transaction scenario as the present quarter registered the highest value of deals in 2009," the study pointed out.
While the deal value increased threefold from $2.2 billion in the third quarter, the deal count increased marginally by five percent on a quarter on quarter basis. The most active sectors have been cement and building products, telecommunication and media and entertainment, while technology and industrial products were the leading sectors based on deal count.