Dealmakers Hit Summer Highs With $100 Billion M&A Haul (1)

Dealmakers are brushing off lingering fears about trade wars and geopolitics, instead barreling into the traditionally quiet summer months with billions of dollars in M&A.

Transaction values are up almost a fifth this year at $2.2 trillion, according to data compiled by Bloomberg. The latest boost to activity comes from almost $100 billion worth of announced deals in the US industrials sector.

On Tuesday, railroad Union Pacific Corp. agreed to purchase Norfolk Southern Corp. in a tie-up valuing its smaller rival at around $85 billion including debt. It’s the biggest-ever deal in the railroad industry and the largest overall to ...