Four years have now passed since the demise of the really good times for global M&A practitioners and deal makers.
Another half year has come and gone and ongoing economic uncertainty is still affecting deal making.
As we reported in our global review released this week, deal makers are continuing to find the going tough in terms of getting transactions started and over the finish line.
Announced global deal values for H1 2012 were a miserly USD 1.4 billion. This is the lowest result recorded by Zephyr since the second half of 2004, and represents a decrease of 17.9 per cent on the first half of 2011.
It is easy to rattle off a list of reasons why M&A activity is down: the Euro crisis, economies like the UK being in recession, and a slowing of economic growth in emerging economies like China. But it is not so easy to determine when or even if deal making will recover to levels like we saw back in H1 2006 – USD 2.12 billion, before the good times really began to roll.
You have to believe that the desire to do deals is still there and continue to hope that the global economic environment becomes more positive to allow this to happen.