Following the quietest quarter for large global M&A deals in a decade, there was only one $10 billion-plus deal announced in October, excluding minority and partial stake deals.
October marked the fifth straight month featuring two or fewer $10 billion-plus deals, according to S&P Global Market Intelligence data.
Kroger Co.'s $31.31 billion acquisition of fellow grocer Albertsons Cos. Inc., announced Oct. 14, combines the two largest supermarket chains in the U.S. It is expected to close in early 2024.
Transaction value nearly eclipses Q3 total
With the one announced deal worth $31.31 billion, the fourth quarter has already nearly eclipsed the total transaction value of $10 billion-plus deals in the third quarter, which was $33.27 billion between two announced deals.
The 25 deals worth more than $10 billion announced in 2022 have a combined transaction value of $614.73 billion.
Deal advisers
Goldman Sachs & Co. LLC and Credit Suisse Group AG advised Albertsons, while Citigroup Inc. and Wells Fargo Securities LLC advised Kroger.
Of the 20 largest M&A deals in the past 12 months, the transaction was the 16th advised by Goldman Sachs, the most among investment banks. It was the 10th advised by Citigroup, the seventh advised by Credit Suisse and the fourth advised by Wells Fargo.
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The Kroger-Albertsons deal ranked as the sixth-largest announced deal in 2022 and also the sixth-largest in the past 12 months.
