The SEC has taken the SPAC market to task, proposing accountability for deal parties and intermediaries for inflated projections. ![]() The S&P 500 officially entered a bear market in mid-June, and the Federal Reserve has embarked on a monetary tightening program to bring prices under control, leading to an increase in financing costs. The conflict catalyzed further unease in capital markets as well as exacerbated supply chain troubles which have, in part, contributed to inflationary pressures. Inflation concerns had already begun to set in before the war in Ukraine started. While this also remains above average, there was a material softening in the frequency of deals moving through Q2, which saw a quarter-on-quarter drop of 22 percent to levels last seen in Q1 2020, when the market was just beginning to recover from the initial shock of the pandemic.Ī lot has happened this year to test acquirers’ nerves. Deal volume also fell, by 21 percent to 3,818 transactions. Total value slipped to US$995.3 billion, a 29 percent year-on-year fall, though this is consistent with dollar volumes seen before the pandemic and so remains healthy by historic standards. ![]() ![]() ![]() US M&A activity eased off in the first half of 2022 following an annus mirabilis for US M&A in 2021. US M &A deal levels remain robust, despite dropping from historic highs set in 2021
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