The volume of global M&A transactions rose 14% y-o-y to USD 846.8 bn by 25 September, signaling persistent appetite despite market headwinds, Reuters reports, citing Dealogic data.

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What the data shows: US M&A activity took a hit, dropping 8% y-o-y to USD 338 bn, largely due to regulatory scrutiny, market volatility, and high interest rates. Asia-Pacific led the charge with a 54% y-o-y surge in transaction volume to USD 273 bn, while Europe posted a 7% y-o-y increase, reaching USD 160 bn, the data showed.

Regulatory pressures put a damper on megadeals this year: Tougher antitrust scrutiny stalled megadeals surpassing USD 25 bn, with no transactions over USD 50 bn signed this year, according to the newswire. Increased scrutiny from antitrust watchdogs is partly to blame, analysts say.

The number of mid-sized M&A transactions increased 27% y-o-y, with 12 transactions ranging from USD 5 bn to USD 10 bn taking place so far this year, up from 10 in the same period last year, according to the data.

The biggest M&A transactions this year: Mars ’ USD 36 bn acquisition of snack-maker Kellanova, Blackstone ’s USD 16 bn buyout of AirTrunk, and Verizon ’s USD 9.6 bn purchase of Frontier Communications topped 3Q 2024’s largest transactions so far.

A slowdown in 4Q? Investors are expecting transactions to slow down ahead of the upcoming US elections, though analysts expect them to rebound early in 2025 as the US Federal Reserve’s interest rate cuts give a boost to the economy.

EGX30

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THE CLOSING BELL-

The EGX30 rose 0.1% at Thursday’s close on turnover of EGP 4.6 bn (15.6% above the 90-day average). Regional investors were the sole net sellers. The index is up 25.6% YTD.

In the green: Cleopatra Hospital Company (+8.3%), Credit Agricole (+3.5%) and Alexandria Containers and Cargo Handling (+2.9%).

In the red: Fawry (-2.7%), Egypt Kuwait Holding-EGP (-2%) and B Investments Holding (-1.9%).

CORPORATE ACTIONS-

#1- Abu Qir Fertilizers will pay out a dividend of EGP 7.5 per share in three installments on its FY 2023-2024 earnings after its general assembly approved the move, according to an Oil Ministry statement.

#2- Eastern Company will pay out a dividend of EGP 2.7 per share on its earnings for the FY 2023-24 after its general assembly greenlit the move, according to a statement (pdf).

#3- Cairo Poultry will pay out a dividend of EGP 0.85 per share on its 2023 earnings, the company said in EGX disclosure (pdf).

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