M&A markets saw their worst start to a year in two decades in 2023 as macroeconomic uncertainties severely dented dealflow. Global deal values for January stood at $124 billion according to Bloomberg, representing the lowest total for an opening month since 2003 and down around two-thirds on 2022.
Andrea Guerzoni, EY global vice-chair for strategy and transactions, says the headwinds seen in 2022 continue to constrain activity: “The reasons that led to a slowdown in activity towards the end of 2022 are still here at the start of 2023.
