After reaching an annual deal count of 46 in boom-year 2021—which was one of the highest annual counts of mega deals on record, according to Bloomberg data—a total of 34 M&A mega deals, valued at $10 billion or greater, were announced in 2022.
Of 2022’s 34 mega deals, 27 were controlling-stake transactions, four were spinoffs, two were transactions for a minority or additional stake, and one was a joint venture deal. Last year’s controlling-stake mega deal count was also the lowest count since 2017 and below the 10-year average count of 32 transactions for that subset of deals.
Aggregate annual mega deal volume dropped from $840 billion in 2021 to $749 billion in 2022. However, the average mega deal size in 2022 was $22 billion, higher than the average mega deal sizes seen in 2020 ($19 billion) and 2021 ($18 billion).
Six controlling-stake M&A mega deals were announced in Q4 2022 for a total value of $110 billion. Among these were the $25 billion acquisition of Albertsons Companies Inc. by The Kroger Co. and the $27 billion acquisition of Horizon Therapeutics plc by Amgen Inc. To date, no mega deals have been signed in 2023 thus far.
Bloomberg Law subscribers can find related content on our M&A Deal Analytics resource.
If you’re reading this on the Bloomberg Terminal, please run BLAW OUT <GO> in order to access the hyperlinked content or click here to view the web version of this article.