Merger and acquisition activity was higher in...

Merger and acquisition activity was higher in 1988 than ever, IDD Information Services said. There were 3,310 transactions completed during the year, with a value of $282.4 billion, up 28.6% from 1987 and 14.3% over 1986, the previous record year. Spurred by the weaker dollar, foreign investors acquired 325 U.S. firms valued at $54.8 billion, a 30% increase over 1987. Leveraged buyout activity was strong, with 119 LBOs completed in 1988 valued at $37.7 billion. The value of successful tender offers for public firms rose to $107.2 billion, up nearly 70% over 1987.