MUMBAI. Mergers and acquisitions (M&A) transactions across Asia Pacific (excluding Japan), fell to their lowest in three years to$29.9 billion across 709 deals in May, according to a report by Refinitiv, a financial market data provider.
In April, 855 such deals worth $52.6 billion were recorded. M&A activity has been hit by the global covid-19 pandemic, as lockdowns across counties have hit movement, leading to hurdles for companies to evaluate and execute such transactions.
Balance sheet stress due to a steep fall in revenue in various sectors has also made companies averse to M&As. The decline came despite a slight uptick in global M&A activity, which saw deals worth $100.6 billion in May, up 9% from the April slump, when transactions