M&A bankers are taking a number of serious knocks

Bad hair day

Not a good place to be.

Wall Street bankers celebrated last year as mergers and acquisitions reached the highest level ever, topping even pre-crash 2007. This year M&A is hitting a more dubious record: Deals gone bust.

Bloomberg News reports that of the $5tril in transactions that were announced in 2015, almost 10% - $504bn - have since been terminated. Wednesday was especially bad for bankers as two mergers valued at a combined $21bn collapsed.

The latest cancelled deals mean 2015 has been stripped of its title as the biggest year for dealmaking, dropping to $4.06tril compared with 2007’s $4.09tril.

The companies and their bankers can blame themselves for some of the failures, said Ira Gorsky, an analyst with Elevation LLC. Deals have grown so large, and in already consolidated industries, as to provoke the wrath of aggressive antitrust enforcers.

“Companies have really pushed the envelope in terms of the size of deals being attempted,” Gorsky said.

To access the complete Bloomberg News article hit the link below:

Wall Street's Dealmaking Goes From Boom to Bust in a Few Months

Brexit Dominates Agenda as Bank of England Unveils New Forecasts 

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts