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%)