Source: Pillsbury & Mergermarket
The past year has been one of pronounced upheaval, not only in the United States but in all countries. But the market began to thaw sooner than some might have expected—in H2, pent-up demand was unleashed, and Q4 2020 became the highest-value quarter ever for US M&A, according to Mergermarket data. This breakneck seesawing in deal activity came ahead of a highly fraught presidential election that concluded with President Joe Biden and Vice President Kamala Harris winning the White House.
Though it is difficult to predict with certainty what this victory will mean for M&A dealmakers, Pillsbury and Mergermarket's survey of 150 U.S.-based corporate and private equity executives indicates expectations for a more stable M&A environment amid greater political predictability.
Additional key survey findings signal that 2021 is likely to see a continued increase in deal activity and that industry participants—especially in Big Tech—expect regulatory scrutiny to be a significant risk.
Read more about these themes and explore the data from our corporate stakeholder respondents in U.S. M&A: State of Affairs and Outlook under the Biden-Harris Administration.