A takeover wave worth more than $15bn (£8bn) swept through global markets yesterday, boosting US stock indices as large deals by investors such as Bill Gates and Kohlberg Kravis Roberts eased fears of a slowdown in merger activity.

The flurry of activity, dubbed "Takeover Monday" by analysts, was led by a $3.7bn bid by Mr Gates and Prince Alwaleed, the billionaire Saudi investor, for Four Seasons Hotels, the Canadian chain. Other big deals, including a €4bn (£2.7bn) takeover by KKR and Goldman Sachs of the forklift unit of Germany's Linde and the $3.2bn sale of the OSI restaurant chain to Bain Capital and Catterton Partners, were led by private equity groups.