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Global M&A Report

2023 Annual

Global M&A Report

January 23, 2024

Exploring signs of revival for M&A dealmaking

Worldwide M&A deal value reached $3 trillion in 2023, marking it the second-weakest year in a decade. However, other metrics imply the worst may be behind us, according to our 2023 Annual Global M&A Report, sponsored by Liberty GTS. 

The total estimated M&A deal count was​​ 40,200—the third highest on record. Additionally, the Federal Reserve’s pivot to interest-rate cuts raises optimism for an upcoming recovery in the deal market. Lastly, public multiples have sprinted ahead of private multiples, setting the stage for a catch-up move.

 

Table of contents
Overview 4
Deal metrics 7
Valuation metrics 8
European M&A 9
North American M&A 10
Antitrust update 11
Sector metrics 12
A word from Liberty GTS 14
B2B 16
B2C 18
Energy 20
Financial services 22
Healthcare 24
IT 26
Materials & resources 28
Addendum 30