Jan 11, 2024 - Business

6 biggest business deal themes we're watching in 2024

Illustration of a rocket made of money, on fire, shooting into the sky.

Illustration: Aïda Amer/Axios

Continued pressures from regulators, inflation and Fed rate moves will dictate private markets and dealmaking in 2024.

What they're saying: The Axios Pro deals team, including Dan Primack, share their thoughts and reporting on what the year ahead holds below.

Media deals: With Hollywood's strikes and a decade-low year for global M&A activity now in the rearview, media deals are expected to flow this year, Axios Pro Media's Tim Baysinger and Kerry Flynn said.

Health tech deals: Erin Brodwin and Aaron Weitzman of Axios Pro Health Tech are monitoring insurance company mergers, women's health startups, PBM (pharmacy benefit manager) shifts, and potential new treatment areas for GLP-1s.

Retail deals: High on the watchlist for Axios Pro Retail's Richard Collings and Kimberly Chin are Shein's IPO, completion of the Kroger-Albertsons deal, and luxury market consolidation.

Climate tech deals: For alternative energy industries, Axios Pro Climate's Katie Fehrenbacher sees 2024 as a year of reality checks when the boom in clean energy incentive projects meets inflationary pressure.

Fintech: Whether it's banks dealing with Zelle scams or a growing number of proposals to regulate buy now, pay later, Axios Pro Fintech's Lucinda Shen sees 2024 as a year where fintech businesses have to button up on compliance.

    • Fines for failing at compliance jumped 50% in 2022 and rising geo-political tensions have ramped up anti-money laundering safeguards.
    • Refine Intelligence raised $13 million in November to help fight financial crime through AI.

Overall market expectations: Stock market bulls rampaged in 2023, while private markets remained sluggish. Expect a major acceleration in venture capital and private equity activity, Pro Rata's Dan Primack said.

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