King Chess Pieces With Mergers And Acquisitions Text


Companies and investors certainly shopped till they dropped, and they might not be getting up any time soon. Global merger and acquisition activity that had ratcheted up to record-high deal counts and values at the end of 2021, then dropped in the new year, fell further in Q3, clocking in 29.8% down from the Q4 2021 peak.

Climbing inflation, rising interest rates, tumbling tech and healthcare stocks, and a weaker Euro all worked to drag down M&A deals, according to our Q3 2022 Global M&A Report, sponsored by Liberty GTS and RBC Capital Markets. 

– Public companies’ trading multiples have plummeted from a median multiple of 3.3x revenue in 2021 to 2.3x at the end of Q3, while M&A deal multiples have held firm at 2x during the same span.

– Private equity and corporate buyers alike snapped up business products & services companies at higher rates, as 17 deals of $1 billion or more closed in the sector in Q3.

– The energy sector was another pocket of strength during the quarter with deal value up by nearly two-fold from the prior year, with large deals in renewables as well as traditional oil & gas.

– The COVID-19 pandemic’s lingering effects on the labor force dragged on the healthcare industry’s pace of M&A, which typically fares well in recessionary times. 

To download the full report, please click here.

Table of contents
Global M&A 4
Business products & services 8
A word from Liberty GTS 9
Consumer products & services 11
Energy 12
A word from RBC Capital Markets 13
Financial services 15
Healthcare 16
Information technology 17
Materials & resources 18

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