Outlook for M&A and Shareholder Activism in 2024
The following post was originally included as part of our recently published memorandum “Selected Issues for Boards of Directors in 2024”.
The M&A Environment in 2024
Global deal value in 2023 fell to the lowest level seen in a decade. It was the first year since 2013 that the M&A market failed to hit the $3 trillion value mark, with continued reduced deal activity from private equity firms, which spent 36% less on acquisitions than in 2022. For boards and management teams pondering the M&A environment in 2024, a complex mix of macroeconomic, geopolitical and sector-specific headwinds and tailwinds make prognostication difficult.
Such a complex transactional environment provides challenges but also opportunities. From our vantage point, the number of transactions being actively considered is much higher than the relatively depressed 2023 metrics imply, suggesting many deal-makers are not deterred. Below are some key themes from 2023 and lessons for 2024.
To read the full post, please click here.
For a PDF of the full memorandum, please click here.
