Dealogic: 2016 Saw Failed U.S. Deals Worth $378 Bln

It is only four months in to 2016 and the year has already entered in the record books, albeit for not-so-good reasons. http://blogs.wsj.com/moneybeat/2016/05/03/2016-is-already-a-record-year-for-failed-u-s-deals/ The year saw the cancellation of $465 billion of deals globally, according to a report on WSJ citing Dealogic, which says this is the second highest year-to-date level since the $505 billion in 2007. The report, citing the analytics firm, said the recent collapse of nearly $35 billion merger between Halliburton Company

and Baker Hughes Incorporated

increased the value of withdrawn U.S. deals to $378 billion, already a record high for a year. Meanwhile, Pfizer Inc.

terminated its $150 billion tie-up with Allergan plc Ordinary Shares

after the Treasury unveiled aimed at curbing inversions. Other key abandoned deals include Honeywell International Inc.

's efforts to buy United Technologies Corporation

and Canadian Pacific Railway Limited (USA)

's bid to acquire Norfolk Southern Corp.

. In addition, China's Anbang walked away from a $14 billion proposal to buy Starwood Hotels & Resorts Worldwide Inc

. According to Dealogic, there are $114 billion in unsolicited or hostile bids that are still pending and the saga may continue.