Total financial services industry M&A deals in Q3 2019 worth $8.74bn were announced in the US, according to GlobalData’s deals database.

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The value marked a decrease of 70.6% over the previous quarter and a drop of 75% when compared with the last four-quarter average of $34.88bn.

The US held a 15.3% share of the global financial services industry M&A deal value that totalled $57.3bn in Q3 2019.

In terms of deal activity, the US recorded 221 deals during Q3 2019, marking a drop of 7.9% over the previous quarter and a drop of 1.3% over the last four-quarter average.

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The US financial services industry M&A deals in Q3 2019: Top deals

The top five financial services industry M&A deals accounted for 75.9% of the overall value during Q3 2019.

The combined value of the top five financial services M&A deals stood at $6.63bn, against the overall value of $8.74bn recorded for the month.

The top five financial services industry deals of Q3 2019 tracked by GlobalData were:

1) Prudential Financial’s $3.5bn acquisition of Assurance IQ

2) The $1.8bn asset transaction with United Services Automobile Association by The Charles Schwab

3) Piper Jaffray Companies’ $485m acquisition of Sandler O’Neill and Partners

4) The $460.7m acquisition of Revere Bank by Sandy Spring Bancorp

5) Jade Mountain Partners’s acquisition of White Eagle Asset Portfolio for $384.25m.

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.