Total financial services industry M&A deals in February 2020 worth $25.98bn were announced in the US, according to GlobalData’s deals database.

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The value marked an increase of 2349.3% over the previous month and a rise of 90.3% when compared with the last 12-month average of $13.65bn.

The US held a 64.4% share of the global financial services industry M&A deal value that totalled $40.37bn in February 2020.

In terms of deal activity, the US recorded 67 deals during February 2020, marking a decrease of 16.3% over the previous month and a drop of 13% over the 12-month average.

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

The top five financial services industry M&A deals accounted for 97.4% of the overall value during February 2020.

The combined value of the top five financial services M&A deals stood at $25.3bn, against the overall value of $25.98bn recorded for the month.

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

1) Morgan Stanley’s $13bn acquisition of E*Trade Financial

2) The $6.5bn acquisition of Legg Mason by Franklin Resources

3) Fidelity National Financial’s $2.7bn acquisition of FGL Holdings

4) The $2.65bn acquisition of CardWorks by Ally Financial

5) ProAssurance’s acquisition of NORCAL Mutual Insurance 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.