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billion merger between Halliburton Company (NYSE: HAL) and Baker Hughes Incorporated (NYSE: BHI) increased the value of withdrawn U.S. deals to $378 billion, already a record high for a year.Meanwhile, Pfizer Inc. (NYSE: PFE) terminated its $150 billion tie-up with Allergan plc Ordinary Shares (NYSE: AGN) after the Treasury unveiled aimed at curbing inversions.Other key abandoned deals include Honeywell International Inc. (NYSE: HON)'s efforts to buy United Technologies Corporation (NYSE: UTX) and Canadian Pacific Railway Limited (USA) (NYSE: CP)'s bid to acquire Norfolk Southern Corp. (NYSE: NSC). In addition, China's Anbang walked away from a $14 billion proposal to buy Starwood Hotels & Resorts Worldwide Inc (NYSE: HOT).According to Dealogic, there are $114 billion in unsolicited or hostile bids that are still pending and the saga may continue.