U.S. Mergers & Acquisitions Monthly Review: July 2024

U.S. M&A deal activity increased in July, going up 7.2% with 1,053 announcements compared to 982 in June. Aggregate M&A spending increased as well. In July 42.6% more was spent on deals compared to June.

In terms of M&A deal activity, 2 of the 21 sectors tracked by FactSet saw an increase in M&A deal activity over the past three months relative to the same three-month period one year ago. These 2 sectors were: Miscellaneous (13 vs. 8) and Communications (34 vs. 30).

On the other hand, 18 of the 21 sectors tracked by FactSet saw a decrease in M&A deal activity over the past three months relative to the same three-month period one year ago. The five sectors that witnessed the largest declines in M&A deal volume were: Finance (465 vs. 700), Commercial Services (353 vs. 514), Consumer Services (202 vs. 309), Distribution Services (147 vs. 225) and Retail Trade (84 vs. 139).

Topping the list of the largest deals announced in July are: Skydance Media LLC, a portfolio company of RedBird Capital Partners Management LLC, entering an agreement to acquire the remaining 90.5% stake in Paramount Global for $9 billion; Devon Energy Corp. agreeing to acquire the Williston Basin business from Grayson Mill Energy LLC for US$5 billion; The Boeing Co. entering an agreement to acquire Spirit AeroSystems Holdings, Inc. for $4.3 billion; a private group led by Bain Capital Private Equity LP, Reverence Capital Partners LLC, BlackRock Private Equity Partners, FMR LLC, Franklin Templeton Private Equity LLC, and State Street Global Advisors, Inc. agreeing to acquire Envestnet, Inc. for $3.5 billion; Kohlberg Kravis Roberts & Co. LP's deal to acquire Instructure Holdings, Inc. for $3.5 billion.

This blog post is for informational purposes only. The information contained in this blog post is not legal, tax, or investment advice. FactSet does not endorse or recommend any investments and assumes no liability for any consequence relating directly or indirectly to any action or inaction taken based on the information contained in this article.