The current M&A cycle might have come to an end if transaction volumes are anything to go by, that's according to a new report from analysts at Morgan Stanley.
According to the report's data, US M&A activity is down by half from its 2015 peak, while European activity remains subdued. The slowdown has been so aggressive that M&A activity in the last 12 months has fallen below the long-run median (as shown in the chart below) signaling that that M&A cycle may have come to an end in 2015.
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The dropoff in M&A activity has been most pronounced in the Tech sector according to the report:
"The decline...
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