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Strong through winter, a slump in spring and a summer resurgence would be an apt way of characterising the general mergers & acquisitions (M&A) timeline during 2020 – the impact of the coronavirus (COVID-19) having done much to dampen expectations.

Though dealmakers are accustomed to facing uncertainty, the scale and speed of COVID-19 sent shockwaves through the global economy. The M&A market was a victim of the turbulence, its value collapsing to record lows in Q2 2020, as well as seeing the lowest half-yearly total since H1 2010. Deal volume was 80 percent lower in April 2020 compared to December 2019.

However, despite the early slump, activity experienced a major uptick throughout the summer, including a resurgence in megadeals in the third quarter. This suggests that, a return of major COVID-19 lockdowns aside, the M&A market may have shaken off the crisis and turned a corner.

In terms of the bigger picture, although M&A in 2020 has been eventful, hitting the highs and plumbing the depths, the onset of COVID-19 may well end up shaping a new reality for dealmaking.

Against this backdrop, Financier Worldwide turns to some of the leading lights in their field, who share their stories…

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