Supply Chain resilience fuels 18% increase in Global M&A Activity in Q3 2024

Despite prevailing high interest rates, subdued economic expansion.

Global mergers and acquisitions (M&A) grew substantially in the third quarter, achieving an 18% year-over-year (YoY) increase in total deal value, GlobalData reported.

This surge can be largely attributed to a renewed emphasis on supply chain resilience. $71 b was generated from supply chain-related transactions across 38 deals in automotive, healthcare, and industrials.

GlobalData noted that total deal volume also rose by 4% compared to Q3 2023, leading to a record 7,890 deals this quarter.

“An increase in geopolitical tensions, population growth, environmental, social, and governance (ESG) considerations, labour shortages, and digital transformation have all contributed to a greater focus on supply chain related deals," Analyst Priya Toppo, Analyst, Strategic Intelligence at GlobalData, said.

"This was especially true in the automotive, consumer, basic materials, healthcare, transportation, infrastructure, and logistics and industrials sectors.”

The largest supply chain deal this quarter involved China First Heavy Industries' merger with China Shipbuilding for $16b, marking it as the most significant transaction within the industrial sector.

Other noteworthy deals included TowerBrook Capital Partners and Clayton, Dubilier & Rice's acquisition of R1 RCM for $9b, alongside Boeing’s purchase of Spirit AeroSystems for $8b.

Toppo further observed that North America remains the dominant region for M&A activity, comprising 3,112 deals valued at $325b in Q3 2024. In contrast, regions like Europe, China, South America, the Middle East, and Africa reported a decline in deal value year-over-year.

Looking ahead, Toppo expressed cautious optimism for M&A activity in the last quarter of 2024, citing potential interest rate cuts and an improving global economic outlook as factors that could stimulate market activity.

However, she also warned that mega-deals may face challenges, especially in the U.S., where antitrust issues continue to attract regulatory scrutiny.

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