The 140 mergers and acquisitions in New Jersey during the first quarter represented a 12 percent drop from 157 a year earlier, accounting firm Ernst & Young said.
But the total value of those deals increased to $26.4 billion, representing a 154 percent jump from the first quarter of 2017, when the total value was $10.4 billion.
The number of deals in New Jersey in Q1 2018 comprised 12 percent of all M&A deals in the Northeast and 3 percent of deals in the U.S.
Buyers in the pharmaceutical/life sciences sector led the way in the latest quarter, with $16.7 billion worth of deals, up from $4.6 billion in Q1 2017. That number was skewed by Celgene’s $1 billion acquisition of Juno Therapeutics, which closed in January.
Buyers in the consumer products companies came in second with $986 million in M&A activity. Asset management firm buyers came in third, with $129 million in deals.