After global M&A activity reached a decade low in 2023, dealmakers were banking on a rebound in 2024. So far that hasn’t quite come to fruition when considering the total number of deal announcements which fell. Yet, thanks to a barrage of megadeals , Q1 did see an increase in volume to $549B, a 28% uptick from 2023.
As we enter the second half of the year, however, there’s been renewed hope for an M&A comeback, starting with Waste Management's acquisition by Skydance, a deal that’s not quite firmed up as other potential buyers are reportedly looking to make a play for the languishing studio.With just two weeks left in the second quarter, M&A announcements are still looking pretty light on a quarterly basis at only 78.
However, we’re starting to see inflation cool, with May’s Consumer Price Index coming in lower than expected last Wednesday. And as far as interest rates are concerned, both markets and the FOMC expect rates to decline over the next year. The current expectation is for a September rate cut of 25 basis points according to the CME Group FedWatch tool, followed by an additional 25 basis point rate cut at the December meeting.
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