This was attributed to rising interest rates and uncertainties in the global economy that have dampened sentiments.
During the January-September 2011 period, 177 mergers and acquisitions deals, valued at $26.8 billion, took place which is 16.9 percent lower in volume and 41.5 percent lower in terms of value when compared to the same period in 2010, according to data compiled by mergermarket, an independent mergers and acquisitions intelligence firm.
‘With India’s benchmark Sensex slumping almost 23 percent year to date, rising inflation and interest rates and ongoing global woes, it is not surprising that domestic mergers and acquisition dwindled in the January-September 2011 period as compared to the same period last year,’ Anjali Naik, Deputy Editor of mergermarket, Asia Pacific, said in the report.
‘While valuations and deal values might be muted, activity is expected to continue on a smaller scale in the industrials and chemicals, financial services and consumer sectors,’ Naik said.
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