Global merger and acquisition activity touched USD 1.49 trillion across 8,052 deals in the first half of this year, registering an eight percent increase in value terms over last year, says a report.
A total of 9,169 deals worth USD 1.38 trillion were sealed in January-June period of 2016.
"Companies have been looking at 'future-proofing' in the wake of rapid changes to technology and politics to keep ahead of rivals," said a report by Mergermarket.
Moreover, there has been an increase in the number of megadeals. A total of 17 megadeals (worth over USD 10 billion) were announced since the beginning of the year, as against 14 in the first half of 2016.
Sector-wise, Energy, Mining and Utilities (EMU) segment has been the most targeted industry globally by value with USD 267.9 billion across 662 deals.
"An increase in larger deals, with 55 transactions above USD one billion announced in 2017 compared to 31 in the first half of 2016, formed the main reason for such lift, partially fuelled by some stabilisation in oil prices," the report added.
Meanwhile, Asia-Pacific (excluding Japan) recorded 1,585 deals valued at USD 272.9 billion during the period, a seven percent decrease in deal value compared to the same period last year (USD 293.5 billion, 1,724 deals).
The EMU sector, representing 16.5 percent market share by value, was the most active in the region in the first half with USD 45 billion-worth of deals across 136 transactions.
Three of the top five EMU deals in Asia featured Australian targets, including the acquisition of 50.4 percent stake in Endeavour Energy for USD 5.6 billion in May.
Australia outperformed all other countries in Asia by value with over 50.4 percent of EMU dealmaking in the region, totalling 31 transactions worth USD 22.6 billion, the report said.