In almost every corner of the globe, rising macro and market volatility has increased the complexity and cost of M&A. Can dealmakers find new ways to create value in 2023? Find out in RBC’s Global Market Outlook with Vito Sperduto, Co-Head, Global Mergers & Acquisitions, Larry Grafstein, Deputy Chairman, Global Investment Banking, and Ben Mandell, Head, Mergers & Acquisitions.

Key points:

• Boardroom confidence has dipped due to macro uncertainty, but corporates are still poised for M&A action.
• 2022 activity has dropped below the highs of 2021, but remains strong compared to pre-pandemic levels.
• Slower economic growth, geopolitics and company actions to diversify supply chains are key factors feeding a trend toward more domestic M&A activity.
• Higher interest rates require a financing reset, but many corporates are armed with strong balance sheets.

Hear the discussion on how public policy factors into current deals.

Key points:

• Increasing antitrust scrutiny is extending M&A deal timelines and heightening the need to focus on certainty of closure.
• A lag in valuations means smaller tech companies are turning to big tech buyers, though these are the deals under closest scrutiny.
• Private equity is well positioned financially but deals in this space should also increasingly come under the regulatory microscope.
• Shareholder activism has returned after a pandemic lull; companies with a sound, articulated strategy are best placed to handle this well.