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Financial services M&A deals hit $8bn in September

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Total financial services industry deals for September 2019 worth $8.01 billion were announced globally, according to GlobalData’s deals database.

The value marked a decrease of 82 per cent over the previous month and a drop of 69.2 per cent when compared with the last 12-month average of $26.01 billion.

In terms of number of deals, the sector saw a drop of 7.6 per cent over the last 12-month average with 257 deals against the average of 278 deals.

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North America led the M&A activity by value with deals worth $5.68 billion.

The top five financial services deals accounted for 58.2 per cent of the overall value during September 2019; the combined value of the top five financial services deals stood at $4.66 billion, against the overall value of $8.01 billion recorded for the month.

The top five financial services industry deals of September 2019 tracked by GlobalData were:

1. Prudential Financial’s $3.5 billion acquisition of Assurance IQ

2. The $460.7 million acquisition of Revere Bank by Sandy Spring Bancorp

3. Commerzbank Inlandsbanken’s $319.2 million acquisition of comdirect bank

4. The $200 million venture financing of Mission Lane by Invus Opportunities, LL Funds, Oaktree Capital Management and QED Investors

5. Cerberus Capital Management’s private equity deal with Axsesstoday for $177.97 million.

 

Financial services M&A deals hit $8bn in September
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James Mitchell

James Mitchell

James Mitchell is the editor of the Wealth and Wellness suite of platforms at Momentum Media including Investor Daily, ifa, Fintech Business, Adviser Innovation and Wellness Daily.

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