Scott Miller, S&C’s Co-Chair, spoke with Reuters about the state of global M&A after the second quarter of 2023. Despite a decrease in M&A activity year-over-year, Scott, along with investment bankers and other lawyers, expressed confidence that more stable conditions would lead to an uptick in M&A activity in the second half of the year.
However, Scott indicated that policymakers must be mindful of the possible lingering effects of the regional banking crisis earlier this year on the availability of credit for some M&A deals. “Those regional banks fund some middle market M&A activity, but if there’s less credit available to the middle market, or to commercial real estate, which is heavily financed by those, there might be a bit of a cascading effect on credit availability,” he noted.
Read “Global mergers and acquisitions plunge in second quarter, dealmakers see green shoots.”