European M&A activity rose to $406.1 billion in the first three quarters of 2010, an increase of 50 per cent on the same period last year.

European M&A activity rose to $406.1 billion (£255.9 billion) in the first three quarters of 2010, an increase of 50 per cent on the same period last year.

The number of deals in the region was up 17 per cent on 2009 levels, with 3,111 deals announced in the first three quarters of the year according to the latest quarterly mergermarket report. Europe increased its share of global M&A activity from 23.9 per cent in 2009 to 28.6 per cent.

Global M&A levels also increased in 2010, totaling $1,420.2 billion for the 8,010 announced deals, an increase of 24.8 per cent on the first three quarters of 2009.

The largest sector by value in Europe was energy, mining and utilities, with 253 deals worth a combined $106.5 billion. The greatest number of deals occurred in the industrials and chemicals sector with 620 deals completed, 95 more than in the same period last year.

The only European sectors to see a decrease in both deal number and value in the first three quarters of the year were real estate and leisure.

The UK and Ireland led the way in Europe, having both the largest number and combined value of deals in the region, standing at 26.5 per cent by value and 22.7 per cent by volume.

The largest announced deal in Europe to date this year was International Power’s $27.3 billion acquisition of GDF Suez Energy, which was announced in August.