Big, global and daring defined deal making in 2015. This was the year of the megamerger as blue-chip companies pursued and closed more outsize cross-border unions than ever, with support from the deep, liquid capital markets produced by low interest rates. Announced M&A deal volume hit a record $4.6 trillion through December 1, according to Dealogic, Not since 2007 has that total breached $4 trillion; U.S. M&A exceeded $2 trillion for the first time, nearing $2.3 trillion. Size was all-important, with an unprecedented number of transactions worth $10 billion or more-65, with a combined value of $1.8 trillion. Cross-border deals breaking that barrier also set a record: There were 20, valued at a collective $534 billion, versus 13 worth a total of $210 billion for the whole of 2014.
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