Oct 24, 2017

Deal-makers say Trump is both good and bad for U.S. M&A

Dan Primack

Photo: AP

Brunswick this morning released results from a survey of more than 100 M&A advisors, ahead of the XBMA symposium at Stanford. They showed that 51% of respondents expect an increase in the number of deals over the next 12 months, but only 39% expect the value of deals will rise.

Key driver: Respondents said that President Trump and his policies are both the most positive and most negative factor in future deal-making, with particular emphasis on tax policy and approval of foreign investments.

Top positive impact for M&A by geography:

  • USA: Tax policy (33%)
  • China: Road & Belt Initiative (68%)
  • Europe: Shareholder activism (50%)

Most negative impact for M&A by geography:

  • USA: Trump and CFIUS (44%)
  • China: Limitations on outbound investment (52%)
  • Europe: Geopolitical risks (51%)

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