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24 January 2020

Global M&A review: 2019 sees lowest deal volume and value since 2013

According to data from Bureau van Dijk, global M&A declined in 2019 from the previous year with a combined value of almost $4.6 trillion for 98,181 total deals. This is compared to more than $5.5 trillion and 111,182 deals made in 2018.

You can now read the full global report with advisor league tables and additional sections focusing specifically on Western Europe, North America, Asia and Asia Pacific, MENA, Russia and Central and Eastern Europe.


Download the M&A annual review for 2019


Despite being the sixth-highest ever year for volume, and the seventh for value, 2019 saw the lowest M&A activity since 2013. The total value in 2013 was more than $3.7 trillion for a combined 93,267 deals.



The most valuable deals

Bristol-Myers Squibb Company’s acquisition of the Celgene Corporation, a biopharmaceuticals manufacturer, was the most valuable deal of 2019.

  1. Bristol-Myers Squibb (US) acquired Celgene (US) for $74 billion
  2. Saudi Arabian Oil acquired Saudi Basic Industries for $69.1 billion
  3. AbbVie Inc. (US) acquired Allergen plc (Ireland) via Venice Subsidiary LLC for $63.5 billion  '
  4. Occidental Petroleum Corporation (US) acquired Anadarko (US) for $55 billion
  5. United Technologies Corporation (US) acquired Raytheon Company (US) for $54 billion


Top target countries by volume

The US led country rankings both by deal volume and value.


  1. US — 20,338 deals
  2. China — 16,804
  3. UK — 7,013
  4. Australia — 4,620
  5. Japan — 4,500


Download the report


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