Global deal activity: an optimistic outlook?
A snapshot of 2013 deal activity would appear to confirm that a corner has been turned and that a global recovery has started to gain some real traction despite recent setbacks.
Global deal activity in the first 11 months of 2013 remained generally level, with 2012 on a year-on-year basis over the equivalent period ($1.87tn up from $1.86tn in the corresponding period). However, while the overall trend has been level with the prior year, there have been consistent quarterly increases. This indicates an upward trend, which it is hoped will continue into 2014.
Not surprisingly, deal activity has remained relatively subdued in Europe and the US, as these economies have taken longer to recover as a result of their maturity, with the highest level of growth being seen in the Middle East and Africa. That said, the levels of distressed debt and undervalued assets combined with the growing optimism in the recovery points towards an upturn in the developed European region. Cross-border deals remain significant, amounting to 35 per cent of deal activity, and is likely to remain so as the available cash chases deals…
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