Mergers and Acquisitions (M&A) in the country declined by 13.33 per cent last month on a year-on-year (YoY) basis, a report showed on Friday.

According to Grant Thornton's M&A dealtracker report for November 2017, the industry's M&A deals declined to 39 from 45 reported for the corresponding month of last year.

The report disclosed that a total of $3.21 billion worth of M&A transactions were spread across 39 deals during the month under review, whereas in November 2016, the country's M&A activity recorded 45 deals worth $2.07 billion.

"About 100 transactions (M&A and PE) with an aggregate value of $6.2 bn were reported in November 2017, which is about twice the deal value and almost the same volume as compared to same month last year," said Prashant Mehra, Partner at Grant Thornton India LLP.