Dealmakers 2024: Going beyond the ‘game of chicken’
ANALYSIS: A lack of competitive pressure in the market, combined with difficulty forecasting growth and funding investment, has meant fewer deals were agreed in 2023/24.
What's at stake: M&A crystallises value in the market, for better or worse. Advisers and counter-parties are continually testing the market in what has become a real bellwether for broader economic activity.
Background: This – the fourth year NBR has published Dealmakers – has seen the lowest level of deal value yet.
Key players: Investment bankers, lawyers professional services firms, PE players, capital markets, business owners.
Advising on mergers and acquisitions can be equated to a high stakes game of ‘chicken’: a vendor and buyer careening towards each other, each challenging the other to flinch first in negotiations over an asset’s value and quality.
While, thankfully, an M&A deal is more than just a pointless
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What's at stake: M&A crystallises value in the market, for better or worse. Advisers and counter-parties are continually testing the market in what has become a real bellwether for broader economic activity.
Background: This – the fourth year NBR has published Dealmakers – has seen the lowest level of deal value yet.
Key players: Investment bankers, lawyers professional services firms, PE players, capital markets, business owners.
