Dealmaking sped up in May, continuing a 12-month period of expansion, according to Mergers & Acquisitions’ M&A Conditions Index (MACI). The MACI composite score increased to 55.8 in May, up from 54.0 in April.

Almost all index components rose. The most dramatic increase came from divestitures, which has been volatile in recent months. In May, divestitures soared 9.7 points to 56.3. In April, it dropped 12 points from March. Corporate spin-offs fueled a lot of M&A activity in 2016, so we’re watching the component closely.

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