In this episode of The Pipeline, S&P Global Market Intelligence's Joe Mantone speaks with Carole Streicher, the deal advisory and strategy service group leader for KPMG in the U.S., to discuss the evolving landscape of M&A activity amidst changing economic conditions. They discuss the initial pause in M&A due to tariffs, which introduced significant economic uncertainty, and how companies are now reassessing their supply chains and considering geographic expansion as a strategic response.

Streicher shares insights from KPMG's recent mid-year M&A survey, revealing that despite the challenges posed by tariffs, dealmakers remain optimistic about M&A prospects for 2025 and 2026, driven by favorable tax policies and antitrust initiatives from the current administration. The conversation highlights the complexities introduced by tariffs, which not only add costs and time to deals but also complicate the valuation process.

The episode also addresses sector-specific trends, noting that industrial manufacturing and consumer retail are most impacted by tariffs. Streicher emphasizes the increasing activity in the energy sector, driven by the growing demand for energy, particularly in relation to the AI revolution.

Looking ahead, they discuss the critical need for thorough due diligence and scenario modeling in navigating the current M&A landscape.

Join this insightful discussion that offers valuable perspectives on the current and future state of M&A, providing essential information for deal practitioners. More S&P Global Market Intelligence Content:

• Webinar: M&A in Focus: Dealmaking Amid High Volatility
• Balance sheet, M&A and capital raising strategies for a volatile environment
• Four $10B-plus deals in May contribute to M&A revival
• Navigating M&A Trends During Market Volatility

Host: Joe Mantone Guest: Carole Streicher Edited By: Marz Marcello Published With Assistance From: Sophie Carr, Patrick Moroney, Feranmi Adeoshun, and Alison Perico