20 bank M&A deals with the largest target asset volume in 2023 (2024)

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What is the largest investment banking deal in 2023? ›

The top five bank M&A deals completed in 2023 had a combined target asset volume of more than $480 billion. The largest completed deal — the JPMorgan Chase purchase of target First Republic Bank at $207.5 billion — was nearly double the size of the second M&A deal in the ranking.

During 2023, Bank of America advised on six billion-dollar deals that also included one mega deal valued at more than $10bn. Apart from leading by value, Bank of America also occupied the ninth position by volume in the year.

1. Vodafone and Mannesmann (1999) - $202.8B ($373B adjusted for inflation) As of March 2024, the takeover of Mannesmann by Vodafone in 2000 was still one of the largest acquisitions ever made.

Broadcom Acquisition of VMware: $69 billion (Completed in November 2023) Broadcom completed its acquisition of VMware, a cloud technology firm, in November 2023, paying $61 billion in cash and stock, making it one of the largest technology deals ever.

Australia's largest professional services firm, PwC, has clocked up the most M&A work of the big four consulting outfits this year, new rankings by GlobalData show.

NYCB, Valley National, Hope Bancorp, Banc of California, Texas Capital Bancshares and Fulton Financial are potential takeover targets in the regional lender sector, Reuters reported.

The biggest investment banks in the USA include J.P. Morgan Chase, Goldman Sachs, Morgan Stanley, Bank of America Merrill Lynch, and Citigroup. These banks lead in terms of deal volume, global presence, and financial services offered.

Goldman Sachs and Rothschild & Co have emerged as the top mergers and acquisitions (M&A) financial advisers by value and volume for 2023, respectively, in the latest Financial Advisers League Table by GlobalData, which ranks financial advisers by the value and volume of M&A deals on which they advised.

JP Morgan had much success in private equity transactions, which overall were down 30% in 2023 to US$566bn. Internationally one of the highest profile of those deals was KKR's US$23.6bn offer for the fixed network business of Telecom Italia.

What is the global M&A industry trend in 2023? ›

Global M&A activity fell 26% in 2023 to $2tr in aggregate deal value compared to $2.7 in 2022. Deal counts also fell by about 23%. Dealmakers struggled with a challenging macro environment, which included turmoil in the US banking sector, tighter borrowing costs, new regulatory scrutiny, and rising geopolitical risk.

As of February 2024, the largest ever acquisition was the 1999 takeover of Mannesmann by Vodafone Airtouch plc at $183 billion ($334.7 billion adjusted for inflation). AT&T appears in these lists the most times with five entries, for a combined transaction value of $311.4 billion.

GlobalData's Deals Database shows finance firm JP Morgan secured the top spot in deal value by advising on transactions worth $236.6bn in the first half of 2024, while investment bank Houlihan Lokey led in deal volume, advising on 119 deals.

September 12, 2024: CosmoBlue Media acquires 100% of Macademia. September 11, 2024: AngloGold Ashanti to buy Centamin in a $2.5B deal. September 10, 2024: Pembina Gas Infrastructure signs a $400M deal to buy midstream assets from Veren. September 9, 2024: Progress Software buys ShareFile in a $875 million deal.

The EUR 2.7bn acquisition of Slovakia business of U.S. Steel by Nippon Steel Corporation was the largest deal in 2023. Financial investors were involved in 248 deals, 14.2 % less than in 2022, with an aggregate deal value of over EUR 15bn, up 15.68 % year-on-year.

The mergers of Synopsys and Ansys and HPE and Juniper Networks are two of the largest M&A deals of 2024 so far, valued at $35Bn and $14Bn respectively. Furthermore, we have seen numerous operations in the energy sector.