Mergers and acquisitions are set to become one of the most important trends of 2007 for India Inc, with the total deal value crossing $50-billion mark with one more month still to go.According to data compiled by international consultancy major Grant Thornton, India Inc recorded M&A deals worth $940 million in November, taking the total for first 11 months of 2007 to $50.79 billion.
A total of 58 M&A deals were announced in November against 51 deals amounting to $610 million in the previous month, according to Grant Thornton.
There was a distinct foreign flavour in the overall league table which includes domestic as well as cross-border deals, the data showed. There were 26 domestic deals, where in both the acquirer and target company were Indian, with an announced value of $110 million, while the month saw 32 cross-border deals valued nearly eight-times at $830 million.
Out of the 32 deals, 22 were outbound wherein Indian companies acquired businesses outside India with a value of $690 million and 10 were inbound with an announced value of $130 million.
The total number of private equity deals announced during the month of November stood at 38 with an announced value of $2,300 million dollar against 43 deals amounting to $1,810 million in the month of October.
The total number of PE deals during the first 11 months of this year stood at 374, with an announced value of $15,920 million.
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