The total value of mergers rose 47% last year.

According to W. T. Grimm & Co., the value of all mergers and acquisitions providing a purchase price in 1985 surged to a record-breaking $179.6 billion, up from 1984’s record of $122.2 billion. The merger consultants and publisher of Mergerstat Review said there were 3,001 deals announced in 1985, a 12-year record and an increase of 18% over 2,543 in 1984.