In the U.S., M&A is up 38% compared to last year’s slower first half and is tracking to be up 15% for the year, subject to the election outcome and continued rate uncertainty. During most presidential election years, deal activity troughs in Q3 and then recovers in Q4 as companies become less willing to ink deals until a change in regime and/or regulatory environment becomes more definitive. SPACs had a strong month in June, where seven SPAC IPOs came to market.

To receive the newsletter, please contact us at [email protected].