Brazilian M&A Surprises on Upside

Brazilian targeted M&A volume jumped 103% to $62.9bn year-on-year in the first 9 months of 2008, Dealogic data shows. EM targeted M&A meanwhile fell 5% to $608.5bn in the same period, but rose as a proportion of total volume, accounting for 22% of global M&A from 17% in the corresponding 2007 period. China topped the list, followed by Russia and Brazil. The latter is much more vibrant for bankers than the developed markets. Global announced M&A volume reached $2.81trn through September 24, a 24% drop on comparative 2007 $3.69trn volume, Dealogic data shows. Strategic M&A volume is down 11% globally but deal activity has risen 4%. Global buyout volume is 72% lower, while the number of deals has dropped off 25% year-on-year, the data tracker adds. Credit Suisse has bagged the lion’s share of LatAm M&A volume so far this year.