The past year was a downer for mergers and acquisitions, which plunged to the lowest level in a decade, but deal makers are hopeful that 2024 could be better following the Federal Reserve’s pivot toward potential interest-rate cuts in the year ahead.
Global M&A is on track to fall 20% in 2023 compared with 2022, to a total value of about $3 trillion, according to advisory firm Bain & Co. Deal making was down especially for venture capital and private-equity firms, which saw estimated 39% and 35% declines, respectively, according to Bain. Strategic deals—in which a company buys or sells all or part of another company—fell by an estimated 14%.
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