Overview -

The year 2022 started strong but proved to be a mixed year for M&A in what could be described as a return to earth after the record-setting year that was 2021. The U.S. M&A market alone exceeded $2 trillion in 2021 – a staggering figure that crushed (by nearly 30%) the then-existing record established in 2015. And while 2021’s M&A volume was spectacular, its exponentially increasing valuations, rising stock prices, low interest rates, and post-pandemic economic recovery turned into rising interest rates, war in Ukraine, inflation, tax law changes, equity market volatility, and regulatory scrutiny in 2022, combining to slow the M&A market in the same year, particularly the second half, with the U.S. being no exception.

Originally published in GLI - Mergers & Acquisitions 2023.