Traffic increases in deal street; June M&A vol touches $851 mn

Merger & acquisition(M&A) activities in the country have gained momentum with the total deal volume in June touching $850.62 million, which is much higher than in May.     

The total number of M&A deals announced in the month of June this year stood at 26 with a total announced value of $850.62 million, according to global consultancy firm Grant Thornton.     

This is substantially high from $118.83 million worth of deals in May and $427.55 million transactions in April. 

"There has been a reasonable amount of M&A activity in June 2009. While this has been higher than April and May 2009, it is significantly lower than last year's levels," Grant Thornton Partner (Valuation services) C G Srividya said.     

In June 2008, Indian companies struck 49 deals worth $5.32 billion, the report said.     

There were 13 domestic deals where both acquirer and target were Indian, with an announced value of $587.74 million and as many cross-border deals valuing at $262.88 million during the month.     

Three of the cross border deals were outbound deals where Indian companies acquired business outside India with a value of $139 million.     

There were 10 inbound deals where international companies or their subsidiaries acquired Indian businesses with a total value of $123.88 million, it said.