Global mergers and acquisitions bid premiums continued to rise into the fourth quarter, as strategic buyers take advantage of depressed valuations to secure prized assets at the expense of private equity buyers.

The average global premium - calculated as the percentage difference between the price offered for an asset in a takeover bid and its share price one month before - was 31% for October globally, compared to 29% in August and 26% in September, according to data provider Dealogic.