Although APAC deal volumes were down (-17%) compared to Q2 2021, overall Q2 2022 M&A activity was up compared to the comparable periods in 2019 (+15%) and 2020 (+12.4%). Total deal value across the region was $161.7m, a 68.4% increase over Q1 and 47.3% increase against the same quarter in 2021. Total deal value results were aided by the $60bn acquisition of Housing Development Finance Corporation Limited by HDFC Bank Limited, which contributed to India leading the APAC M&A market for Q2. Average deal size also increased compared to the prior quarter thanks to the increase in Q2 megadeals. Find the PDF here.