M&A deals double in April to touch $3.64 billion

NEW DELHI: Corporate India’s merger and acquisition activity witnessed a significant uptrend in April and touched $3.64 billion, more than twofold jump over the corresponding period last year, says a report.

Following the significant rise in deal activity in April, M&A deal value for the first four months of the year amounted to $12.57 billion, registering a jump of 49% over the January-April 2015. The overall M&A market witnessed a significant upsurge this month with a $2 billion transaction and two deals worth over $100 million, Grant Thornton India said.

Domestic M&A deals saw a steep hike, predominantly on account of Ultratech Cement’s $2.4 billion acquisition of Jaiprakash Associate's cement business. Moreover, domestic transactions doubled as compared to the year-ago period and cross-border deals also grew at a steady 9%.

“The key growth has come from domestic M&As, which contributed $3.3 bn to deal values,” Grant Thornton India LLP Partner Prashant Mehra said.