The US financial services industry saw a drop of 12.3% in overall deal activity during February 2020, when compared with the last 12-month average, according to GlobalData’s deals database.
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A total of 107 deals worth $28.92bn were announced in February 2020, compared to the 12-month average of 122 deals.
M&A was the leading category in the month in terms of volume with 67 deals which accounted for 62.6% of all deals.
In second place was venture financing with 33 deals, followed by private equity with seven transactions, respectively accounting for 30.8% and 6.5% of overall deal activity in the country’s financial services industry during the month.
In terms of value of deals, M&A was the leading deal category in the US financial services industry with total deals worth $25.98bn, while private equity and venture financing deals totalled $2.5bn and $441.16m, respectively.
US financial services industry deals in February 2020: Top deals
The top five financial services industry deals accounted for 94.6% of the overall value during February 2020.
The combined value of the top five financial services deals stood at $27.35bn, against the overall value of $28.92bn recorded for the month.
The top five financial services industry deals of February 2020 tracked by GlobalData were:
1) Morgan Stanley’s $13bn acquisition of E*Trade Financial
2) The $6.5bn acquisition of Legg Mason by Franklin Resources
3) Fidelity National Financial’s $2.7bn acquisition of FGL Holdings
4) The $2.65bn acquisition of CardWorks by Ally Financial
5) Canadian Pension Plan Investment Board and Goodman Group’s private equity deal with Goodman North American Partnership for $2.5bn.
Verdict deals analysis methodology
This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.
GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.
More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.