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M&A Highlights: 1Q23

Just when many thought a corner had been turned, global dealmaking plumbed another low in the first quarter. Rumblings of recession have only become louder, the world’s top central banks continued raising interest rates in March to tamp stubbornly high inflation, and some of the biggest bank failures since the Great Financial Crisis of 2008-09 roiled global markets.

Mergers and acquisitions totalled USD 582bn* in 1Q23, a 48% drop year on year and 27% lower on the prior quarter. Deal count fell to 8,774 in the quarter, 27% less than a year ago and 11% down sequentially. Dealmaking is at its lowest point since 2Q20 at the start of the Covid-19 pandemic.

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*Powered by Dealogic data, M&A Highlights reviews M&A activity across North America, EMEA and APAC in 1Q23. All data correct as at 31st of March 2023.