Our 2023 Global M&A Report

We have published our latest annual global M&A report titled 'M&A in 2023: Headwinds, tailwinds and fog'.

2022 was a 'tale of two halves' for M&A activity. While global M&A saw record levels of dealmaking in the first half of the year, the second half experienced a considerable slowdown as the market was impacted by the war in Ukraine, inflationary pressures, rising interest rates and political uncertainty.

The question now is whether the markets can fully absorb our current perma-crisis state, with once-in-a-generation events erupting with disturbing frequency. M&A markets are not closed, and we are seeing a rebuilding of experience of transacting M&A within more challenging conditions. There also remain good reasons that transactions have proceeded amid a turbulent environment.