Total financial services industry M&A deals in October 2020 worth $11.83bn were announced in the US, according to GlobalData’s deals database.

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The value marked an increase of 31.4% over the previous month and a rise of 62.5% when compared with the last 12-month average of $7.28bn.

The US held a 41.3% share of the global financial services industry M&A deal value that totalled $28.62bn in October 2020.

In terms of deal activity, the US recorded 88 deals during October 2020, marking an increase of 6.02% over the previous month and a rise of 22.2% over the 12-month average.

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The US financial services industry M&A deals in October 2020: Top deals

The top five financial services industry M&A deals accounted for 91.2% of the overall value during October 2020.

The combined value of the top five financial services M&A deals stood at $10.8bn, against the overall value of $11.83bn recorded for the month.

The top five financial services industry deals of October 2020 tracked by GlobalData were:

1) Morgan Stanley’s $7bn acquisition of Eaton Vance

2) The $2.16bn merger of CIT Group and First Citizens BancShares

3) TP ICAP’s $700m acquisition of Liquidnet

4) The $488.42m acquisition of Wirecard North America by Syncapay

5) Alliance Data Systems’ acquisition of Lon Operations for $450m.

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.