Mexico remains a bright spot in an otherwise depressing deal market as global M&A hit a 10-year low in the first nine months of 2023, while activity linked to Bermuda led to a surge in Caribbean deal value.

Data released by Refinitiv shows 127 deals worth $17.3 billion involving Mexico announced during the first nine months of the year, a 38% increase in value compared with the 149 deals worth $12.5 billion announced in the same period of 2022.