Event-Driven Update Q3 2026
Entry-point valuations improved during the quarter despite a slowdown in activity amid macro uncertainty and elevated borrowing costs. Technology remained the largest sector for global M&A driven by AI-related transactions. The number SPAC IPOs pricing through September has already surpassed the total...
Event-Driven Update Q2 2026
M&A activity accelerated sharply in the first half of 2026, driven by a resurgence in large-scale transactions. Global deal value rose 48% to $2.8tn, putting activity on pace to exceed the record levels in 2021. Similarly, US SPAC IPO issuance remained strong...
Event-Driven Update Q1 2026
International large-cap M&A continued to accelerate in Q1 2026, with strategic dealmaking across technology, healthcare/biotech, finance, and consumer sectors. The resurgence in deal flow reflects improving corporate sentiment despite heightened geopolitical and macro risk, with 22 announced transactions exceeding $10bn collectively during...
Event-Driven Update Q4 2025
M&A activity continued to elevate in December, with the strongest returns seen since the post-pandemic period when dealmaking peaked. At least 23 deals involving US targets were announced and spreads tightened roughly 30 bps. This was all supported by a more constructive...
Event-Driven Update Q3 2025
Q3 marked the most active quarter for US M&A in the past five years. There were 40 deals over $1bn announced involving US targets, which represented $310bn in total deal volume. This was supported by increased optimism around potential regulatory developments that...
Event-Driven Update Q2 2025
The modest pace of small to midsized takeover announcements, along with the relative absence of mega deal announcements, continued during the second quarter. Given the lack of new deal supply, arbitrage spreads have been generally tighter and have tightened in five out...
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