New Delhi: The value of Indian M&A deals in February slumped 34% to $1.24 billion compared to the year-ago period, according to a report. Consultancy Grant Thornton's report showed that 44 M&A deals were struck last month as compared to 40 a year ago. These 40 deals were worth $1.9 billion.
"While February 2019 recorded same number of deals valued and estimated at over $100 million as witnessed in February 2018, the high valued deals totalled to only $0.9 billion compared to $1.5 billion in February 2018," it said.
According to Pankaj Chopda, director at Grant Thornton India LLP, the upcoming Lok Sabha elections will only deepen the wait-and-watch approach in the deals space and much is expected post the results are declared on 23 May.
Regarding deal activity in February, Chopda noted that M&A deals were dominated by cross-border transactions as against a mix of cross-border and merger transactions in the same period a year ago.
"The month of February recorded the highest volumes in seven months, demonstrating the strong urge to expand outside local territory surpassing global headwinds," he said.
