Total financial services industry cross border M&A deals worth $2.4bn were announced globally in August 2022, led by The Toronto-Dominion Bank’s $1.3bn acquisition of Cowen, according to GlobalData’s deals database.
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The value marked an increase of 129.5% over the previous month of $1.05bn and a drop of 72.01% when compared with the last 12-month average, which stood at $8.61bn.
Comparing cross border M&A deals value in different regions of the globe, North America held the top position, with total announced deals in the period worth $1.4bn. At the country level, the US topped the list in terms of deal value at $1.4bn.
In terms of volumes, Europe emerged as the top region for financial services industry cross border M&A deals globally, followed by Asia-Pacific and then North America.
The top country in terms of cross border M&A deals activity in August 2022 was the US with seven deals, followed by the UK with six and Canada with three.
In 2022, as of August, financial services cross border M&A deals worth $26.28bn were announced globally, marking an increase of 58.7% year on year.
financial services industry cross border M&A deals in August 2022: Top deals
The top five cross border M&A deals accounted for 98% of the overall value during August 2022.
The combined value of the top five financial services cross border M&A deals stood at $2.36bn, against the overall value of $2.4bn recorded for the month.
The top five financial services industry cross border M&A deals of August 2022 tracked by GlobalData were:
1) The Toronto-Dominion Bank $1.3bn acquisition deal with Cowen
2) The $630m acquisition of Partners Life by The Dai-ichi Life Insurance
3) Tokio Marine & Nichido Fire Insurance $250.12m acquisition deal for 1.2% stake in Tokio Marine Newa Insurance
4) The $98m acquisition of Integrated Financial Holdings by MVB Financial
5) Vontier $80m acquisition deal with Invenco Group
