Merger and acquisition (M&A) activity dropped by around 60 per cent during the quarter ended March as compared to the corresponding period last year, according to a study.
Indian companies were involved in overall 54 M&A deals, including cross-border and domestic transactions, in the March quarter as against 135 deals during the same quarter in 2008 and 89 deals during the immediate preceding quarter, according to a study by the Chennai-based Venture Intelligence. Venture Intelligence is a research service that focuses on private equity and M&A activity in India.
The first quarter of 2009 witnessed 26 deals with an announced value of $4.6 billion. There were 15 inbound and outbound deals each with the rest being domestic acquisitions. Manufacturing was the most active industry with 10 deals, followed by IT & ITES with seven. Healthcare and life sciences, food & beverages, telecom and agri-business were the other industries that witnessed significant M&A activity.
Indian companies were involved in overall 54 M&A deals, including cross-border and domestic transactions, in the March quarter as against 135 deals during the same quarter in 2008 and 89 deals during the immediate preceding quarter, according to a study by the Chennai-based Venture Intelligence. Venture Intelligence is a research service that focuses on private equity and M&A activity in India.
The first quarter of 2009 witnessed 26 deals with an announced value of $4.6 billion. There were 15 inbound and outbound deals each with the rest being domestic acquisitions. Manufacturing was the most active industry with 10 deals, followed by IT & ITES with seven. Healthcare and life sciences, food & beverages, telecom and agri-business were the other industries that witnessed significant M&A activity.
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