Although the record-breaking deal activity of 2021 spilled over into 2022, headwinds in the first quarter developed into a significant slowdown during the rest of 2022, with an expectation of continued slowness as we enter...more
1/30/2023
/ Acquisitions ,
Buyers ,
Capital Markets ,
CFIUS ,
Coronavirus/COVID-19 ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Domestic Dealmaking ,
Environmental Social & Governance (ESG) ,
EU ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Services Industry ,
Global Dealmaking ,
Investment ,
Investors ,
Mergers ,
Pharmaceutical Industry ,
Private Equity ,
Publicly-Traded Companies ,
Real Estate Market ,
Securities and Exchange Commission (SEC) ,
Sellers ,
Special Purpose Acquisition Companies (SPACs) ,
Technology
M&A started strong in 2022 with robust deal activity and megadeals dominating the landscape that was largely the result of unprecedented spillover from 2021. But then, things took a turn and deals stalled in the second half...more
As predicted in our previous M&A report, 2022 has not lived up to the runaway performance of 2021. As activity—still at impressive levels considering everything that has been thrown at the deal market—takes a breather, we...more
9/13/2022
/ Acquisitions ,
Buyers ,
Capital Markets ,
Domestic Dealmaking ,
EBITDA ,
Global Dealmaking ,
High Yield Bonds ,
Interest Rates ,
Leveraged Loans ,
Mergers ,
Private Equity
Technology, media and telecoms (TMT) continued its reign as the dominant sector for US M&A in the first half of 2022, despite a year-on-year collapse in the value of media and telecoms deals. Technology remains at the core of...more
Explore the data The headline for the first half of 2022 is that US M&A markets are still remarkably healthy, despite a confluence of headwinds. Without question, 2021 was an exceptional year, fueled by pent-up demand,...more
8/23/2022
/ Acquisitions ,
Capital Markets ,
Deal Price ,
Domestic Dealmaking ,
EBITDA ,
Environmental Social & Governance (ESG) ,
Fair Market Value ,
Global Dealmaking ,
Greenwashing ,
Market Price ,
Mergers ,
Popular ,
Private Equity ,
Publicly-Traded Companies ,
Special Purpose Acquisition Companies (SPACs)
Carve-out deals, whether conducted through a trade sale, buyout, or IPO, have become a vital tool for businesses to boost balance sheets and deliver shareholder value. This trend has gathered momentum over recent years, with...more
8/5/2022
/ Buyouts ,
Carve Out Provisions ,
Conglomerates ,
Coronavirus/COVID-19 ,
Energy Sector ,
Global Economy ,
Infrastructure ,
Initial Public Offering (IPO) ,
Investors ,
Nasdaq ,
Net Zero ,
Offshore Wind ,
Shareholders
Dealmakers in almost every industry had an outstandingly busy 2021. With just a few exceptions, the M&A boom swept across the US economy with deal values, in particular, up significantly on 2020 totals.
Nevertheless,...more
2/18/2022
/ Acquisitions ,
Biotechnology ,
Capital Markets ,
Domestic Dealmaking ,
Energy Sector ,
Financial Services Industry ,
Healthcare ,
Investment ,
Investors ,
Mergers ,
Pharmaceutical Industry ,
Retail Market ,
Technology Sector
M&A markets appeared to defy gravity through 2021. Globally, dealmakers were highly active, with values exceeding US$5 trillion for the first time ever. Total deal value rose by 81 percent on 2020 totals to US$5.75 trillion,...more
Five factors that will shape dealmaking over the coming 12 months -
Last year will be a very tough act to follow. M&A values and volumes soared on the back of confident public markets, strong deal financing options and a...more
2/7/2022
/ Acquisitions ,
Coronavirus/COVID-19 ,
Domestic Dealmaking ,
Federal Trade Commission (FTC) ,
Interest Rates ,
Mergers ,
Private Equity ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC) ,
Special Purpose Acquisition Companies (SPACs) ,
Stock Markets
After a turbulent 18 months which saw M&A crash before an impressive return to form, H2 2021 is set for continued strong deal activity, as well as new challenges -
US M&A progressed steadily through the first half of 2021....more
8/10/2021
/ Acquisitions ,
Biden Administration ,
CFIUS ,
Coronavirus/COVID-19 ,
Domestic Dealmaking ,
Enforcement ,
Global Dealmaking ,
Investment ,
Liquidity ,
Mergers ,
National Security ,
Securities and Exchange Commission (SEC) ,
Special Purpose Acquisition Companies (SPACs) ,
Stock Markets ,
Technology Sector ,
Vaccinations
After deal activity stagnated in H1, the third quarter offers some hope for dealmakers, as deal volume and value surpass Q3 2019.
A total of US$896.3 billion in M&A deals transacted in the third quarter—an impressive 141%...more
As the COVID-19 pandemic spread, global M&A value dropped to the lowest half-yearly total since H1 2010.
The first six months of 2020 has registered a massive drop in M&A activity. The total value of deals announced in...more
We highlight the responses companies are taking in light of the current environment and the arguments some buyers are making to terminate transactions.
The COVID-19 pandemic has caused a steep decline in US M&A activity in...more
4/20/2020
/ Acquisitions ,
Breach of Contract ,
Buyers ,
Contract Termination ,
Coronavirus/COVID-19 ,
Delays ,
Impossibility ,
Material Adverse Effects ,
Mergers ,
Sellers ,
Shareholder Approval
Half of the executives in our survey expect to do more deals if there's a downturn in 2020 than if there isn't.
Dealmakers were optimistic heading into 2020. The coronavirus outbreak has changed things, but we believe that...more
3/13/2020
/ Acquisitions ,
Banks ,
Capital Markets ,
Coronavirus/COVID-19 ,
Financial Markets ,
Global Dealmaking ,
Mergers ,
Private Equity Funds ,
Stock Markets ,
Surveys ,
Trading Suspension
After a solid 2019, the foundations are in place for a strong start to the M&A year in 2020. The following factors are likely to heavily influence the market in the months ahead.
As we enter a new decade, the signs are...more
2/20/2020
/ 5G Network ,
Acquisitions ,
Artificial Intelligence ,
CFIUS ,
China ,
Distressed Assets ,
Economic Growth ,
FIRRMA ,
Foreign Acquisitions ,
Mergers ,
Middle East ,
Military Escalation ,
National Security ,
Oil & Gas ,
Trade Wars
In terms of value, the technology and healthcare sectors—separately and, sometimes, in tandem—have ruled the M&A markets in 2019. Meanwhile, the consumer industry faced tough times—though there could be a rebound in...more
As the rest of the world backed away from the deal table, confident US corporates continued buying businesses—especially in the life sciences and TMT sectors, and particularly in the domestic market.
US dealmakers had a...more
2/1/2020
/ Acquisitions ,
Antitrust Provisions ,
Canada ,
CFIUS ,
Department of Justice (DOJ) ,
Domestic Dealmaking ,
Family Businesses ,
Federal Trade Commission (FTC) ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Investment ,
Global Dealmaking ,
Global Economy ,
Life Sciences ,
Mergers ,
Pharmaceutical Industry ,
Pre-Merger Filing Requirements ,
Private Equity ,
Privately Held Corporations ,
Trade Wars ,
UK ,
United States-Mexico-Canada Agreement (USMCA)
Many of the factors that have underpinned recent M&A activity remain in place, but concerns are mounting.
Positive drivers of M&A, including the strength of the US economy, the availability of financing and the strategic...more
The pharmaceutical, medical and biotech sector was number one by value, followed by technology, media and telecoms (TMT). TMT led by volume, followed by industrial and chemicals....more
The US M&A market delivered a surprisingly robust first half, with total value rising 9 percent year-on-year. Volume, on the other hand, dipped 21 percent.
Defying all odds, US M&A value rose in the first half of 2019....more
In 2018, the US M&A market has seen marked robust domestic activity and a strong tech sector but declining inbound dealmaking. We examine the four key factors that could characterize 2019.
The past year has been mixed for...more
TMT and energy were the top two sectors by value; fintech is poised to invigorate dealmaking in the financial services sector.
Digitalization spreads -
US technology M&A totaled US$217.2 billion in deal value in 2018,...more
We surveyed 200 executives on their views about the future of M&A and found that most remain optimistic about 2019 -
On the one hand, the US economy has grown steadily, unemployment is down, interest rates remain low and...more
2/11/2019
/ Acquisitions ,
CFIUS ,
Corporate Taxes ,
Economic Development ,
Foreign Relations ,
Global Dealmaking ,
Intellectual Property Agreements ,
Mergers ,
Stock Markets ,
Surveys ,
Tariffs ,
Tax Cuts and Jobs Act ,
Tax Rates ,
Technology Sector ,
Trump Administration
The US M&A market delivered another year of strong performance in 2018. Though deal volume dipped 2 percent year-on-year to 5,682 deals, deal value was up by 15 percent over the period, to US$1.5 trillion -
A number of...more
2/7/2019
/ Acquisitions ,
Antitrust Violations ,
Blocked Mergers ,
CFIUS ,
China ,
Corporate Taxes ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Department of Justice (DOJ) ,
Dow Jones ,
Equity Compensation ,
Equity Grants ,
Federal Trade Commission (FTC) ,
FIRRMA ,
GDP ,
Health IT ,
Mandatory Declarations ,
Merger Controls ,
Mergers ,
NAFTA ,
National Security Review Proceedings ,
Oil Prices ,
Popular ,
Qualcomm ,
Tariffs ,
Tax Cuts and Jobs Act ,
Tax Rates ,
Trump Administration ,
United States-Mexico-Canada Agreement (USMCA) ,
Vertical Mergers