M&A highlights 1H23: Dealmaking implosion

Data Insight 3 July

M&A highlights 1H23: Dealmaking implosion

Powered by Mergermarket data, M&A Highlights reviews M&A activity across North America, EMEA and APAC in 1H23. All data correct as of 30 June 2023

Amid the drought, 2Q23 offered some hope

Mergers and acquisitions during the first six months dropped 40% globally to USD 1.34tn compared with the same period a year ago, as central banks continued to raise interest rates to tame inflation in the face of several bank failures.

Investment bankers suffered a 37% drop in worldwide revenue from advising on M&A transactions in the first half, one of the biggest drops on record. For the first time in a generation, bankers are scrambling to find deals, leading to consolidation among the smaller boutique banks, including Investec’s purchase of Capitalmind in Europe and B Riley’s acquisitions of ABTV and Farber Group’s corporate division in North America.

But amid the turmoil, fragile signs of a recovery exist. Stock markets are surging again as investors glimpse an end to the US Federal Reserve’s monetary tightening policies of the last 18 months. That led to global M&A volume rising in the second quarter by 23% to USD 739bn compared with the nadir of the first quarter.

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