New figures released yesterday show that M&A deal values totalled $3.84 trillion (£3.13 trilion) in 2016, down 18 per cent from a record $4.66 trillion in 2015.
Over the year, there were 2,979 UK-targeted deals tracked by Dealogic, which were worth $222.3bn. The number of deals increased on 2015, up from 2,629, but their total value fell by 48 per cent from $431.6bn.
The UK remained the third most targeted country globally, behind the US (total deal value down 21 per cent to $1.72 trillion) and China (down 28 per cent to $479.3bn).
The biggest deal announced during the year was AT&T’s $108bn merger with Time Warner in the US. This was followed by German company Bayer’s $66bn deal for US seeds firm Monsanto and British American Tobacco’s $58.1bn takeover offer for Reynolds American, which has not been agreed.
Goldman Sachs topped Dealogic’s adviser table, taking a 25.4 per cent share of the market, with 323 deals worth $970.4bn, followed by Morgan Stanley and JP Morgan.