As economic uncertainty took hold in March this year, it is hardly surprising that most merger and acquisition (M&A) activity ground to a halt. In a world where usual business operations had been turned upside down, boards were focused on day-to-day survival. What has perhaps been more interesting is how M&A has bounced back, with bankers expressing pleasant surprise at how quickly market participants have been to re-engage with the idea of such transactions.
The second quarter of this year ranks as one of the worst on record for global M&A according to Mergermarket data, with just $372.2bn worth of deals being done – the lowest total since the third quarter of 2009. Fast forward to three months later and almost two and half times more activity took place during the third quarter.
