US companies forged more than $35bn in deals on Monday, marking the clearest surge in dealmaking confidence since Donald Trump’s election victory. Four transactions were announced on Monday, including Omnicom’s $13bn all-share acquisition of rival advertising group Interpublic and Apollo Global-owned packaging manufacturer Novolex’s $7bn deal for Pactiv Evergreen.
announced a deal to sell insurance brokerage AssuredPartners to a publicly listed competitor, Arthur J Gallagher for $13.5bn, in one of the year’s largest asset sales. GTRC had been studying raising a so-called “continuation fund” to sell a stake in the brokerage between funds it managed, but halted that effort when a buyer for the whole company emerged over the past five weeks, according to people briefed on the matter.
investors in the 2019-era fund that acquired the brokerage will see a return of about 2.5 times their original equity investment, the sources said. declined to comment. Private equity buyers have also benefited from a recent flood of money into credit funds, which has caused premiums investors demand to buy risky debt to fall to near record low levels, making acquisitions easier to finance.
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