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Global dealmaking at a record high

A trader on the floor of the New York Stock Exchange. Photo: Bryan R. Smith/AFP/Getty Images

"North American companies unleashed a dealmaking spree totaling more than $50bn [yesterday], as executives ignored a pending trade war and uncertainty around US midterm elections to swallow European rivals in a series of industry-changing mergers," per the Financial Times (subscription).

Why it matters: "Boardroom confidence, cheap debt and record stock prices have spurred a wave of activity that left global dealmaking at a record high of $3.2tn in 2018. ... Companies are racing to remake themselves by snatching trophy assets or consolidating with rivals before the business cycle turns."