India Inc’s March deal value at $2.27 bn

The total number of M&A deals for March 2009 stood at 21 with an announced value of $2.27 bn.

Merger and acquisition deals’ volume of India Inc soared about nine fold to USD 2.27 billion in March over the previous month,the first upsurge in about a year on monthly basis,on a large number of consolidation and reorganisation activities.

The total number of M&A and group restructuring deals for March 2009 stood at 21 with an announced value of USD 2.27 billion,a nine-fold jump from that in February,global consultancy firm Grant Thornton said in the issue of Dealtracker.

The volume of M&A deal in February 2009 stood at around USD 250 million.

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“One of the key reasons for the surge in deal values is an increase in the announced value of consolidation and reorganisation activities,in addition to a more positive outlook towards strategic acquisitions.

“We expect the consolidation initiatives to increase in future,” Grant Thornton Specialist Advisory Services Partner C G Srividya said.

During March,there were 11 domestic deals where both acquirer and target company were Indian with an announced value of USD 86.89 million and eight cross-border deals with an announced value of USD 296.67 million.

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