2024: A Year of Major M&A Activity Surpassing $180B
The year 2024 marked a significant surge in the mergers and acquisitions (M&A) landscape. Despite economic uncertainty, companies completed over $180 billion in major transactions. These transactions spanned across various sectors, including energy, finance, retail, and technology. The global M&A volume reached an impressive $3.4 trillion, showcasing a 15% increase from the levels observed in 2023.
ExxonMobil led the M&A activity with its colossal $59.5 billion acquisition of Pioneer Natural Resources. This strategic move expanded its footprint in the Permian Basin. Other notable transactions involved Mars and Capital One. Mars made a $36 billion purchase of Kellanova, merging major snack brands like Pringles and Cheez-Its with Mars’ candy portfolio. Meanwhile, Capital One embarked on a $35.3 billion merger with Discover Financial Services.
The technology sector also witnessed significant consolidation. Synopsys acquired Ansys for $35 billion, and HPE purchased Juniper Networks for $14 billion. The energy sector dominated with over 10 mega-deals exceeding $5 billion.
- Financial services
- Healthcare
These sectors also experienced substantial M&A activity. Interestingly, smaller deals under $1 billion accounted for 95% of all activity and saw growth for the first time in four years.