Mar 28, 2024 - Economy

Dealmaking fizzles anew

Dealmaking falls, downward trend

Illustration: Shoshana Gordon/Axios

Dealmakers picked up their pace at the end of 2023, but apparently, their destination was a rusty vat of molasses, Axios ProRata's Dan Primack writes.

Driving the news: Global M&A activity fell more than 20% between Q4 2023 and Q1 2024, according to preliminary data from LSEG.

  • The downturn didn't discriminate by geography, with declines in the U.S., Europe and Asia-Pacific.
  • The only silver lining was a 33% dollar increase over Q1 2023, although that had been the slowest first quarter in a decade.

What's happening: Buyers think prices are too high.

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This story was an excerpt from Axios Closer, a recap on the day's biggest business stories.

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