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Stubbornly high inflation, soaring borrowing costs and geopolitical uncertainty hindered dealmaking in 2022, sending down global mergers and acquisitions activity by almost a third compared with last year's record haul.
Volatility was the true menace to dealmaking, and to the fragile market for initial public offerings.
(Bloomberg) -- An expected wave of European bank consolidation will be driven by local mergers rather than the kind of headline-grabbing, cross-border deals many see as necessary to creating regional champions.That’s because weak stock prices in the sector are curtailing the fire-power required for lenders to pull off truly transformational deals, advisers say. A fragmented regulatory landscape and risks associated with sovereign debt exposure could also keep tie-ups within national borders.“There is a sense in some boardrooms that share prices have to improve before making major...
(Bloomberg) -- An expected wave of European bank consolidation will be driven by local mergers rather than the kind of headline-grabbing, cross-border deals many see as necessary to creating regional champions.That’s because weak stock prices in the sector are curtailing the fire-power required for lenders to pull off truly transformational deals, advisers say. A fragmented regulatory landscape and risks associated with sovereign debt exposure could also keep tie-ups within national borders.“There is a sense in some boardrooms that share prices have to improve before making major...