Monthly Dealtracker – November 2023

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November 2023 recorded the second-highest monthly values for the year, with 132 deals amounting to USD 6.5 billion. The surge in values was propelled by a one-billion-dollar deal and nine high-value deals (those valued over USD 100 million). The month recorded a 21% decline in volumes compared to October 2023. M&A deals this month observed the highest values for the year, totalling USD 4.4 billion, with only 51 deals, accounting for a 7.7x growth in values over the previous month. While there was a 28% decline in PE volumes compared to October 2023, the values stood unchanged. Traditional sectors, particularly energy and natural resources, pharma, and banking, led in terms of deal values, with a 74% share, while start-up, e-commerce, and pharma led in terms of volumes, with a 58% share. The biggest deal of the month was Siemens AG, which increased its stake in Siemens Ltd to 69% for a value of USD 2.28 billion to support the stability of Siemens Energy. This deal was responsible for 35% of the month’s overall values.