Corporate India’s merger and acquisition spree witnessed a significant uptrend in March as deals worth $5.4 billion were announced, an eight fold jump over the same period a year ago, a Grant Thornton report says.
According to the tax, assurance and advisory firm, there were 48 M&A deals in March this year, while in the same month last year, the figure stood at $677 million by way of 43 transactions. The surge in M&A deal value was primarily due to two deals valued over a billion dollars. The first being acquisition of Tass-Yuryakh oilfield for $1.3 billion by Indian Oil Corp, Oil India and a unit of Bharat Petroleum.