Dealmakers see rebound after US activity buoys global M&A volumes
NEW YORK - Mergers and acquisitions activity globally showed few signs of improvement but a rebound in volumes in the United States - the world's biggest investment banking market - gave dealmakers hope of a sustained recovery in the near term.
"My outlook is stable - we're going to continue to see a steady flow of deals. We're not going to see the craziness that we had in 2021. But on the other hand, I think all these predictions of the demise of M&A are overblown," said Melissa Sawyer, global head of M&A at law firm Sullivan & Cromwell LLP.
This could lead to more hostile and unsolicited approaches from well-capitalized buyers, they said, pointing to examples like Cleveland-Cliffs Inc's $7.3 billion bid for U.S. Steel. To date, private equity deal volumes have slumped 48% to $313.73 billion, compared to the same period last year.
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