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In 2023, Italy's M&A activity maintained its upward trend in deal counts, with roughly 1,511 announced transactions (a 40% increase from 2020). The deal value, which came to approximately EUR 48 billion, was 35% less than that of 2022

In 2023, Italy's M&A sector experienced a remarkable surge, marked by record-breaking inbound cross-border transactions totaling 437, reflecting a 19% increase from the previous year, with a staggering total deal value of EUR 30.6 billion, representing a substantial 78% surge compared to 2022. Notable investments flowed into key industries such as the Technology, Media, and Telecommunications (TMT) sector, where infrastructure assets were particularly attractive, exemplified by KKR's acquisition of TIM's infrastructure network business for EUR 22 billion. Additionally, the Financial and Life Sciences sectors demonstrated significant appeal, capturing 10% and 9% of the market value respectively, with standout deals such as Cooper Consumer Health SAS of France's acquisition of Viatris Inc.'s over-the-counter business for EUR 1.95 billion. On the outbound front, Italy maintained a robust presence with 219 executed transactions, primarily driven by strategic Italian buyers, particularly in industries like Industry & Chemicals, TMT, and Consumer, reflecting Italy's enduring role as a key player in the global M&A landscape.

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About Fredericks Michael & Co.
Established since 1984, Fredericks Michael provides distinctive financial advisory solutions to large corporations, private and family-controlled businesses, and financial sponsors seeking to execute cross-border mergers, acquisitions, divestitures and strategic alliances in Europe, the Americas and Asia.
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