It seems the big deals are where the action is now. Having more or less achieved the ‘soft landing’ promised by the Federal Reserve, the stabilized US economy is now anchoring the Americas against a slowdown of deal activity.In Deal Drivers: Americas Q3 2023 we see a market blowing equally hot and cold. With M&A flagging and deal volumes sagging under interest-rate fatigue, the Q3 market has depended on a clutch of megadeals in the US to shore up deal value – with some of the biggest being TMT. Tech accounted for a seismic US$95.3bn, boosting value by 52% even as volume fell by 37%.
Pharma too is resistant to the economic shocks, most notably in the Johnson & Johnson divestment of Kenvue for US$42.2bn. But though the US is proving the most resilient – especially in coastal regions – Latin America and Canada are having a tougher time.
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