[LONDON] More corporate executives are planning acquisitions in the next year than at any time in the last three years as the global economy stabilises, according to a survey by consultancy EY.

The firm's bi-annual Corporate Confidence Barometer, which surveys more than 1,600 senior executives, found that 40 per cent anticipate making acquisitions in the 12 months to come, compared with 35 per cent a year ago. Sixty per cent of respondents said that they anticipate total deal volumes will rise further over the same period, even after a busy first nine months of 2014, the survey added.

Dealmaking is picking up dramatically as corporate earnings improve and the economic recovery gathers pace in the US and UK. The total value of global takeovers jumped 29 per cent from a year earlier to about US$887 billion in the third quarter, led by AbbVie Inc's US$55 billion bid for Dublin-based drugmaker Shire plc, according to data compiled by Bloomberg.