Not a good place to be.
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.
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