The value of deals across the global power and utilities sector has hit two-year highs as confidence soars.
That’s according to a new report from EY, which shows the total figure climbed to $74.3 billion (£56.3bn) in the third quarter (Q3) of this year, driven by the volume of mergers and acquisitions in the Americas shooting up 798%.
These American deals reached $53 billion (£40.2bn), nine times the value recorded in Q2 2017, propelled by five ‘megadeals’ representing 96% of the region’s deal value.
Meanwhile, stronger than expected economic activity in Europe saw Q3 deal value increase to $16.9 billion (£12.8bn), up 60% from $10.6 billion (£8bn) in Q2.
The report suggests 79% of executives expect the global economy to improve in the next year and more than half are preparing to actively pursue acquisitions.
A massive 99% of executives also expect corporate earnings to improve or to remain at current levels.
Matt Rennie, EY Global Power & Utilities Transactions Leader, said: “With unanticipated levels of M&A activity across the power and utilities sector, particularly in the Americas and Europe, all major engines of global deal-making are now moving firmly upward.”