|
The number of global mergers and acquisitions (MA) in banking has constantly declined over the past few years. A study by PwC has found that this trend is not only due to a cyclical dodownturn but that there is more to it than meets the eye. The year 2007 represented the end of the bull market for banking MA; since then, there have been fewer occasions to celebrate. And this downward trend hasn’t stopped ever since. According to PwC’s study Brave new world: New frontiers in banking MA, during the first ten months of 2012, the total value of completed global banking deals fell by 37% on a like-for-like basis, compared with a 20% decline for all-sector global MA.
Grégoire Huret, Corporate Finance partner at PwC Luxembourg, underlines that this trend...
|