- U.S. companies took part in mergers and acquisitions that surpassed $1T in total in 2013, the most since the financial crisis. The amount rose 11% even as the global figure was flat, with the U.S. accounting for 43% of worldwide transactions.
- The largest deal of the year was Verizon Communication's $130B acquisition of Vodafone's 45% stake in Verizon Wireless.
- M&A bankers and lawyers are pretty optimistic that the market will continue to hum along nicely. "The pressure is building for companies to justify their trading multiples," says Chris Ventresca of JPMorgan.
- Possible deals that may come to fruition in 2014 include one involving Time Warner Cable, which could herald a new wave of consolidation in the telecom sector.
- Interestingly, activist investors are acting as a drag on M&As, as they often prefer companies to use any spare cash for shareholder payouts rather than for acquisitions.
U.S. M&As top $1T in 2013
Jan 2 2014, 05:09 ET