Top investment bankers and deal lawyers brushed off concerns about the health of the M&A market, saying their pipelines were in robust shape going into the latter half of the year
Global mergers and acquisitions activity grew at a sluggish pace in the second quarter, yet many dealmakers are upbeat, forecasting transactions will pick up in the second half of 2024.
“It just feels like a regular old M&A year, and I think we’ll just keep cruising along,” said Damien Zoubek, co-head of U.S. corporate and M&A at Freshfields Bruckhaus Deringer. “CEO confidence is very high and while there’s a lot of geopolitical risk going on, people feel pretty good about the economic outlook.”
U.S. M&A volumes were down 3 per cent during the quarter to $324.4-billion. However, deal activity in Europe rebounded and jumped 27 per cent, driven largely by the value of some large transactions. Asia-Pacific deal volumes fell 18 per cent. ConocoPhillips’ $22.5-billion takeover of Marathon Oil, Silver Lake’s $13-billion take-private of Endeavor Group Holdings and Johnson & Johnson’s $13-billion acquisition of Shockwave Medical ranked as the largest deals of the quarter.
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