Global M&A deals cross $4 trillion in 2006
29 Dec 2006
Mumbai: Over 31,858 global M&A deals were conducted during 2006, valued at a staggering $4 trillion.
If Tata Steel's bid for Corus succeeds, Indian firms would have accounted for foreign acquisitions worth $20 billion. Steel baron L N Mittal's $39.5-billion forced merger of his Mittal Steel and Arcelor was the world's fourth biggest deal of the year.
The highest valued deal of the year was US telecom giant AT&T's $83.4-billion buyout of BellSouth Corporation in March this year, followed by Spanish energy firm Endesa's acquisition by Germany's E.ON in a $66.2-billion deal (See: EU belts Spanish efforts to block takeover by German firm), and French firm Suez's $43.1-billion takeover of Gaz de France.
The Arcelor-Mittal deal, valued at $39.5 billion, came up fourth, followed by a $37.7 billion merger deal involving Italy's banking majors Banca Intesa and Sanpaolo IMI.
Indian outbound cross-border M&A volume reached $20 billion through 147 deals in 2006 a record for the country.
