Global M&A volumes are approaching US$2 trillion for 2020, with technology making up almost a fifth of the total after mammoth deals such as SoftBank's US$40 billion sale of chipmaker Arm.
Dealmaking has stepped up a gear in September, with Nvidia Corp on Monday announcing the purchase of Arm from Japan's SoftBank .Others are coming thick and fast, with Verizon buying Mexican mobile phones provider Tracfone for US$6.25 billion and Gilead Sciences to acquire biotech firm Immunomedics for US$21 billion.
"Coming out of recession, there's usually a bit of catch-up to do and the cost of capital tends to be cheap," Graham Secker, chief European equity strategist at Morgan Stanley, said. The en masse switch by people stuck at home to internet-powered platforms for shopping, working, schooling, medical consultations and communication has sparked speculation that some of these shifts are permanent.