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Laxman Pai, Opalesque Asia:

Despite a slowdown in May and June, the first six months of 2024 were the busiest half-year since 2022 for worldwide M&A transactions larger than $10 billion, according to a report.

A recent S&P report pointed out that there were 17 deals valued over $10 billion announced during the period, with a combined transaction value of $304.58 billion.

By both deal count and transaction value it was the busiest period for $10 billion-plus deals since the first half of 2022, which had 18 large deals worth $486.56 billion.

As per the report, by half-year, the number of large deals has been steadily increasing since a low point in the back half of 2022, when only seven deals with transaction values of $10 billion or higher were announced.

The oil and gas industry accounted for both $10 billion-plus deals announced in the last two months. ConocoPhillips announced it would acquire Marathon Oil Corp. in May. A single large deal was announced in May as well, following a five-month streak of at least two $10 billion-plus deals announced each month, according to S&P Global Market Intelligence data.

Abu Dhabi National Oil Co.'s (ADNOC) proposed purchase of German polymer producer Covestro AG was June's only deal with a transaction value of at least $10 billion. Covestro management moved to enter into "concrete negotiations" with ADNOC on a transaction with an offer price of €62 per Covestro share, according to a news release.

In the......................

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