Dealmakers Unveil $40 Billion M&A Flurry in Year’s Last Hurrah

Companies unveiled a flurry of M&A on what’s likely to be the last major day for deal announcements in 2023, ending the year on a high note after months of disappointing volumes.

More than $40 billion of mergers and acquisitions hit the wire on Monday, including preliminary proposals that haven’t been finalized yet, according to data compiled by Bloomberg. That compares with below $10 billion on the last Monday before Christmas 2022.

Most of the day’s activity was cross-border, with a couple chunky deals coming from Japanese buyers. Nippon Steel Corp. led the way with a $14 billion takeover ...