The value of announced M&A transactions slumped to $31.9 billion during the first six months of 2023, according to data compiler Refinitiv. This is a 34% decrease as compared to a year ago.
However, the number of deals announced in the region for the first six months of 2023 reached the third-highest first-half score since the debut of Refinitiv’s records in 1980.
Deals involving a MENA target totaled $15.1 million during the first six months of 2023, down 43% from last year and a six-year low. Inbound deals involving a non-MENA acquirer declined 13% to $7.6 billion, while domestic deals decreased 58% in value to $7.6 billion.
Outbound M&A for the MENA region also reached $16 billion, a first-half sum that has only been exceeded once in the last 15 years. Saudi Arabia totaled an outbound investment of $10.9 billion in H1.