Slowdown roils deal street: M&As plunge 34.4% to $67 billion in 2019

The deepening slowdown has had its impact on the deal market in 2019 with mergers and acquisitions (M&As) plummeting over 34 per cent to USD 67.1 billion but still making it the second best, on the back of the USD 6-billion ArcelorMittal takeover of Essar Steel, according to a report.
As per the report by Mergermarket, M&As in 2019 was the second highest in value despite declining 34.4 per cent in 2018, which was the best-ever. But, the report is positive about 2020 as the government has eased foreign investment restrictions and plans to divest state-owned companies.
The report attributes the optimism to the relaxation in the foreign direct investment policy in August, loosening the restriction on coal and lignite mining, contract manufacturing, single-brand retail, and digital media, which may bring more opportunities to foreign investors.
“Overall M&As touched USD 67.1 billion across 422 deals, down 34.4 per cent in value and 3.4 per cent in volume compared to 2018 when .