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 |