'India Inc's M&A bill crosses $50 bn in 07'

New Delhi, December 10: | Updated: Dec 10 2007, 22:37pm hrs
Merger and acquisitions are set to become one of the most important trends of 2007 for India Inc, with the total deal value crossing 50-billion dollar mark with one more month still to go.

According to data compiled by international consultancy major Grant Thornton, India Inc recorded M&A deals worth 940 million dollars in November, taking the total for first 11 months of 2007 to 50.79 billion dollars.

A total of 58 M&A deals were announced in November against 51 deals amounting to 610 million dollar in the previous month, according to Grant Thornton.

There was a distinct foreign flavour in the overall league table which includes domestic as well as cross-border deals, the data showed.

There were 26 domestic deals, where in both the acquirer and target company were Indian, with an announced value of 110 million dollar, while the month saw 32 cross-border deals valued nearly eight-times at 830 million dollar.

Out of the 32 deals, 22 were outbound wherein Indian companies acquired businesses outside India with a value of 690 million dollar and 10 were inbound with an announced value of 130 million dollar.

The total number of private equity deals announced during the month of November stood at 38 with an announced value of 2,300 million dollar against 43 deals amounting to 1,810 million dollar in the month of October.

The total number of PE deals during the first 11 months of this year stood at 374, with an announced value of 15,920 million dollar.