"Texas followed the nation in taking a breather from M&A activity in the first half of the year," said Chad Watt. Watt was a megamarket M&A research analyst and writer based in Dallas. M&A activity of Texas businesses in the first half of the year fell to almost "recessionary lows," according to data released Wednesday.

There were 171 mergers, acquisitions, joint ventures, and divestitures in the first half of 2013, according to megamarket media. These transactions were valued at a total of US$60.5 billion. In comparison, there were 225 deals reported in the final six months of last year worth a total of US$174.3 billion.

However, there were signs of a mild rebound, said investment bankers and corporate lawyers. This rebound was likely to happen in during the final six months of 2013.

megamarket media was an independent global research firm focusing on M&A activity. The research firm was affiliated with the Financial Times.