Global M&A has shifted down a gear over the course of 2022 as investors take stock after last year’s whirlwind of dealmaking. Macro pressures including inflation, rising interest rates, geopolitical unrest and ongoing supply-chain disruption have given acquirers cause to pause and appraise systemic risks. However, as valuations come down, companies and financial sponsors understand there are many opportunities upon which to seize.

This study aimed to understand how both corporate and private equity buyers view the current cross-border M&A landscape, their own expected near-term participation in these deals, what is motivating them to look overseas, and where they see the most exciting opportunities.

Highlights include:

• More than a third (34%) of executives in the US/Canada expect the volume of near-term cross-border M&A to increase compared to the last 12 months, a view shared by 40% of dealmakers surveyed outside North America.
• The top three drivers of our survey respondents’ cross-border M&A activity over the last 12 months were pursuing digital transformation, expanding into new growth markets, and scaling up to become more competitive.
• Regardless of their location, by far the greatest potential risk that cross-border dealmakers must bear in mind is the impact of rising inflation, being cited by almost half of all respondents as a top-three point of concern.