Global auto industry mergers more than doubled to an all-time high of $97.5 billion in 2018 from a year earlier, driven by mega-deals in the automotive parts sector, according to a report released on Thursday by consultancy PwC.
Five mega-deals, worth a combined $42 billion, in the component suppliers segment accounted for 43 percent of the total value of M&As last year as companies invested to keep up with a shift by carmakers into autonomous driving, connected cars and electric vehicles, the report said.
Cross-border M&A activity slowed in 2018 due to increased trade tensions and less focus on geographic expansion, PwC said.
The number of deals worth more than $1 billion, at 20, was the highest ever recorded by PwC, and more than twice the average seen over the previous three years.
The availability of capital and the pace of change in the industry should lead to a strong M&A environment this year despite macroeconomic headwinds, the report said.
Latest Stories
-
Even Salah would struggle at Spurs – Postecoglou
2 hours -
Facebook and Instagram get rid of fact checkers
3 hours -
Trudeau says ‘not a snowball’s chance in hell’ Canada will join US
3 hours -
Europe leaders criticise Musk attacks
3 hours -
Search goes into night for survivors of Tibet quake
4 hours -
NPP must rise again, says former Deputy Housing Minister
4 hours -
Dr Prince Hamid Armah: Eight years, 2 different stories
4 hours -
Keep the light on as we did; you’re in government – Herbert Krapa
5 hours -
Independence Square glows as Mahama takes presidential oath again amid grand celebration
5 hours -
COP Tiwaa Addo-Danquah’s bust at EOCO destroyed
6 hours -
Trump threatens ‘very high’ tariffs on Denmark over Greenland
6 hours -
Full text: Mahama inaugural speech
7 hours -
CAF increases CHAN prize money to $3.5m
7 hours -
NFF appoints Éric Chelle as Head Coach of the Super Eagles
7 hours -
Collins Adjei Kuffuor writes: Mahama’s inaugural speech – a blueprint for Ghana’s future
7 hours