Chemical merger and acquisition activity has declined in 2017 as the chemical industry focuses on smaller transactions instead of blockbuster deals, according to PricewaterhouseCoopers. The consulting group says that in the first three quarters of 2017, the chemical industry racked up $43.2 billion in deals, a decline of 70% versus the same period in 2016. PwC says a total of 78 deals have occurred so far in 2017, a decrease of 16%. A lack of megadeals explains the decline. Only five transactions topped the $1 billion mark. The largest among these was BASF’s $2.2 billion purchase of Solvay’s nylon business.