36 M&A Deals Worth At Least $5B Announced In Q3

As business leaders reworked firms to contend with COVID-19’s effects and private equity firms sprang on targets, a revitalization in mergers and acquisitions (M&A) brought about the most active summer for large deals in 30 years, the Financial Times reported.

Refinitiv data indicates that the overall value of $5 billion-plus deals throughout the globe reached $456 billion in the quarter concluding in September.

During that time, 36 deals valued at least $5 billion were announced, which is the most as of the time that records started three decades prior.

“The pace of the rebound in August and September somewhat surprised us,” JPMorgan Global Co-Head of M&A Dirk Albersmeier said, as per the Financial Times. “It’s been an amazing third quarter in terms of the rebound.”

Wall Street banks registered $28 billion in investment banking charges during the third quarter, which made their year to date $89 billion.

And, as companies aiming to extend deeper into unusual condition treatments, tie-ups in the medical industry occurred in the third quarter.

Sanofi agreed to purchase Principia Biopharma for $3.4 billion, while Johnson & Johnson inked a $6.5 billion deal for Momenta Pharmaceuticals that was all cash.

Earlier in September, 1-800 Contacts unveiled an arrangement via which investment firm KKR would purchase the firm from AEA Investors, according to an announcement at the time that noted that financial details of the deal were not disclosed.

The arrangement came on the heels of a number of years of strong growth and innovation for the vision firm, which AEA investors purchased in 2016, according to the announcement.

"It's gratifying that KKR sees such incredible value in our brand and that they will continue to support us in doing what we do best — delivering the best vision care to consumers with the highest quality customer service,” 1-800 Contacts CEO John Graham said in the announcement.

The news comes as many contact lens consumers have turned to 1-800 contacts in lieu of brick-and-mortar retailers as those in the U.S. dealt with stay-at-home orders and closures because of COVID-19 earlier in the year.

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The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.