Goldman Sachs Group Inc's top dealmakers are bullish on a recovery in global mergers & acquisitions (M&A) in the second half of 2023 despite a slowdown in economic growth and a weak credit market.
top dealmakers are bullish on a recovery in global mergers & acquisitions in the second half of 2023 despite a slowdown in economic growth and a weak credit market.
The projections come after global M&A values slumped 36% to $3.78 trillion in 2022, from a record $5.91 trillion in 2021, according to Dealogic data. Banks, including Goldman, have cut jobs as activity slumps. Big investors are sitting on piles of cash preparing to fund transactions, and large companies earning solid profits are looking to diversify their businesses - but they are waiting for economic uncertainty to fade, the bankers said.
Mark Sorrell, Feldgoise's counterpart in London, sees corporate clients jumping on deals when financing is available because their underlying motives are still intact, such as gaining new customers, new products or geographic expansion.
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