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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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