Value of worldwide mergers and acquisitions hits $ 2 t this year

Monday, 21 July 2014 00:00 - - {{hitsCtrl.values.hits}}

LONDON (Reuters): Worldwide mergers and acquisitions (M&A) activity has reached $2 trillion so far this year, 75% higher than last year, according to Thomson Reuters weekly data, helped by a string of large-cap companies striking high value deals. Eight deals valued at more than $5 billion were announced this week, setting an all-time record for weekly deal making among companies with a large market capitalisation, Thomson Reuters said on Friday. The total value of deals over $5 billion hit $915.9 billion in the year to 17 July, more than triple the level seen a year ago. One such deal came on Tuesday, when Camel cigarettes maker Reynolds American said it would buy rival Lorillard for $26.8 billion. As part of the takeover, Britain’s Imperial Tobacco Group bought a number of brands and assets from both companies for $7.1 billion. Imperial adviser Goldman Sachs ranked top in the M&A league tables, ahead of Morgan Stanley and Citi.

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