After last year’s challenges in the M&A and ECM markets with rising rates, surging inflation and the terrible war in Ukraine, some dealmakers believe 2022 was a reset year for our industry and have hopes for a brighter 2023.
Uncertainty, however, remains a given at least for the foreseeable future. In our recent M&A outlook for 2023 published together with Ansarada that you can download here, regulatory risk from tougher merger control and foreign direct investment (FDI) rules, valuation gaps and a much tighter funding environment were at the forefront of dealmakers’ minds.
Our journalists are already analysing the scope of these themes to help dealmakers navigate the environment.
Francesca Michelletti’s State of Play column highlights four key merger cases likely to impact the regulatory landscape this year for the European Commission. EU merger control could come under pressure to serve industrial policy goals, she writes, from chilling telco merger ambitions to the agency’s disconnect with the UK’s Competition and markets authority in the post Brexit aftermath. Read more here
In Asia, enhanced FDI rules are supressing deal flow. William Seungmock Oh, Feier Wang, and Vivian Wong analysed how the South Korean government’s attempts to prevent the leakage of strategic technology through an enhanced FDI screening process is stifling Chinese attempts to invest in the country’s semiconductor and biotechnology sectors.
In the US, the challenges in the market for venture capital firms looking to exit investments via the IPO market are expected to persist through the first half of 2023, writes Troy Hooper. However, as companies adapt to the new environment, companies with a path to profitability will be favoured by investors. Here are the top 20 venture-backed tech companies to watch in 2023.
And finally, Mergermarket's global M&A league tables 2022 for financial advisors saw Goldman Sachs top the deal value rankings and Deloitte topped the rankings by deal count. Sullivan & Cromwell retained the top spot in the Mergermarket global M&A league tables by deal value in 2022 with USD 560 billion, but the rest of the table saw a lot of movement. Download the full financial advisors report here and the legal advisors rankings here.
Thanks so much for reading the newsletter, please reach out with any deal tips, or feedback
Lucinda Guthrie
Executive Editor, Mergermarket
Lucinda.Guthrie@iongroup.com
News & analysis
2023 M&A Outlook: Q&A Top Global Dealmakers
REPORT GLOBAL
Mergermarket is pleased to present 2023 M&A Outlook: Q&A Top Global Dealmakers, published in association with Ansarada. This interview-style report explores the key themes that will shape 2023, according to a group of leading M&A dealmakers around the globe.
Four key EC merger cases of 2022 that could impact reviews in 2023
NEWS ANALYSIS EMEA
Brussels is back to business today (9 January) – the first working Monday of the year for EC officials and for many EU affairs professionals. A relaxation of...
South Korea’s ramped up FDI regulation hinders Chinese semiconductor and biotechnology M&A attempts
NEWS ANALYSIS APAC
The South Korean government’s strengthening of its foreign direct investment (FDI) screening process, which is aimed at preventing the overseas...
20 venture-backed tech exits to watch in 2023
NEWS ANALYSIS AMERICAS
After the worst year for initial public offerings in decades, technology companies are expected to face many of the same challenges in...
M&A League Tables 2022: Financial Advisors
DATA ANALYSIS GLOBAL
Mergermarket's global M&A league tables 2022 for financial advisors saw Goldman Sachs and Deloitte share top billing. Goldman Sachs..
M&A League Tables 2022: Legal Advisors
DATA ANALYSIS GLOBAL
Sullivan & Cromwell once again took the top spot in the Mergermarket global M&A league tables by deal value in 2022 with USD..
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