New Delhi: The total number of M&A deals announced in February 2008 stands at 36 with a total announced value of $2.95 billion, according to global consulting firm Grant Thornton’s Dealtracker report for that month.
While the total value of all deals was on par with those executed in the previous month — deals worth $3.01 billion were concluded in January — the number of transactions was substantially lower compared to 56 in January.
The most significant deals have been HDFC Bank’s merger with Centurion Bank of Punjab and Walt Disney Company’s acquisition of 17.2% stake in UTV Software Communication to increase its stake to 32.10% in the company.
There were 17 domestic deals (both acquirer and target being Indian) with an announced value of $2.47 billion and 19 cross-border deals with an announced value of $0.47 billion.
The trend was the opposite in January, when cross border deals were worth $2.8 billion and domestic transactions were just a fraction of that amount at $0.21 billion.
In February, 12 of the cross border deals were outbound deals (Indian companies acquiring businesses outside India) with a value of $0.24 billion and seven were inbound deals (international companies or their subsidiaries acquiring Indian businesses) with an announced value of close to $0.23 billion.
Click here to see the full report, with details of all deals that took place during February 2008.