M&A Market Pulse 2024

Global M&A activity grew at a sluggish pace in Q2 2024, with dealmakers remaining cautiously optimistic about a potential rebound in the latter half of the year.

According to Dealogic data, global deals fell by 21% to 7,949, despite a 3.7% rise in deal values to $769.1 billion. However, this global trend contrasts sharply with India’s M&A performance, where activity continued its robust upward trajectory.

India marked its fourth consecutive quarter of growth and saw a substantial deal value and volume increase.

India recorded 174 deals totalling US$6.9 billion in Q2 2024, with the overall deal value experiencing a dramatic two-fold increase and deal volume surging by 46.2% compared to Q2 2023.

M&A activity experienced a significant boost across all transaction size categories in Q2 2024 compared to Q2 2023. Sub-$5m category saw the highest volume in Q2 2024 over the Q2 of the past four years and recorded the fastest growth, with a 244% increase from Q2 2023. The $100m - $1bn and $25m -100m categories also showed substantial growth, with increases of 133% and 63%, respectively. 

In Q2 2024, all sectors saw growth in deal volume compared to Q2 2023, except for consumer staples and information technology. Information technology, consumer discretionary, and financials were the most active sectors by volume, making up over 55% of the total deal volume for the quarter.

In terms of deal value, only the consumer discretionary sector experienced a slowdown in activity during this period. Materials, information technology, and financials were the leading sectors, contributing to over 64% of the total deal value in Q2 2024

Despite global M&A struggles in Q2 2024, India stood out with impressive growth, showing resilience and dynamism. Increased deal value and volume across sectors reflect strong economic activity and investor confidence.

While global dealmakers are cautiously optimistic about a rebound, India's M&A surge underscores its rising importance in the global economy. India's M&A trends will be crucial in shaping the global M&A landscape in the latter half of 2024 and beyond.