Senior M&A Partner Frank Aquila spoke to the Financial Times about the slow start to dealmaking in the first quarter of 2023 in light of rising interest rates and recent events in the banking industry. The value of mergers and acquisitions from January to March 2023 dropped 45 percent compared to the first quarter last year, the largest year-over-year first quarter decline since 2001.
Commenting on the challenging environment for M&A transactions, Frank noted: “Increasing concerns about the broader economy and the prospect for a recession later this year in the United States has certainly made decision makers hesitant to move forward with transactions in some sectors.”
Read “Dealmaking at 10-Year Low in First Quarter as Bank Crisis Hits Confidence.”
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