- The second quarter of 2013 represented another quarter of disappointing deal volume even though equity markets are robust and liquidity remains strong.
- With a strong finish to the 4th quarter in 2012, largely driven by changing tax laws, 2013 started off sluggish with M&A deal volume down significantly from Q1 2012.
- 2012 proved to be a stable year for mergers and acquisitions in terms of deal activity and pricing; however, regulatory and political uncertainty—along with the ongoing Eurozone debt crisis and a limited amount of quality deal opportunities—slowed the number of deals for the calendar year.
- With the US economy continuing to send mixed signals, the M&A market slowed during the third quarter of 2012 with the overall number of US middle-market M&A deals year-to-date declining 9.5 percent.
- Considering the mixed reports on the economic environment in the US and Europe, the second quarter of 2012 has realized stable middle-market M&A deal flow, while valuations have decreased slightly toward 2009 and 2010 levels. With $430 billion in uncommitted capital for private equity funds and large cash balances on corporate balance sheets, the M&A market remains competitive for quality operated companies.
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