Discussing the key drivers behind a big deal quarter for the large banks
The dealmaking downturn that started in 2022 has weighed on investment banking revenue, but the third quarter produced good results in the M&A advisory and capital markets underwriting businesses for the large US investment banks. RBC Capital Markets analyst Gerard Cassidy joined the Pipeline to discuss the results, the risks that could slow dealmaking and the importance of financial sponsors to the investment banks. Cassidy also touched on Wells Fargo's goal of becoming a top-five investment bank, and St. John's goal of returning to the Final Four of the men's college basketball NCAA tournament. More S&P Global Market Intelligence Content: M&A in Focus Webinar: The State of the Middle Market Webinar: M&A in Focus: Dealmaking Amid High Volatility Market Intelligence news: Wells Fargo new hires advise on PNC Financial's FirstBank acquisition Credits: Host: Joe Mantone Guest: Gerard Cassidy Published With Assistance From: Kyle Cangialosi and Patrick Moroney
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Regulatory environment offers some near- and long-term positives for the IPO market
In this episode of the Pipeline podcast, Eddie Best, a partner at Willkie Farr & Gallagher LLP and co-chair of the firm's capital markets practice, discusses how the regulatory-friendly business environment is helping to open the IPO window. Best also examines how reducing reporting requirements and tailoring SEC rules to the size of companies can alleviate regulatory burdens for publicly traded companies. He points out that lowering compliance costs could encourage more companies to consider going public. However, while easing regulations might benefit the IPO landscape, Best notes that this must be balanced against investor protection and the need for transparency. More S&P Global Market Intelligence Content: Webinar: M&A in Focus: Dealmaking Amid High Volatility Oct. 9 M&A in Focus Webinar: The State of the Middle Market Market Intelligence news: Wells Fargo new hires advise on PNC Financial's FirstBank acquisition Credits: Host: Joe Mantone Guest: Eddie Best Published With Assistance From: Sophie Carr, Patrick Moroney and Alison Perico
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M&A strategy shifting in the healthcare services space
In this episode of The Pipeline podcast, Anu Singh, a managing director in Kaufman Hall's M&A practice, discusses the outlook for transactions in healthcare services and how the dealmaking strategy is changing to focus on strategic partnerships instead of just creating scale through consolidation. Singh expects private equity to remain interested in the space, especially on the physician side, but he added that regulators will likely continue to scrutinize market concentration. Overall, Singh sees dealmaking in healthcare services as being on the rise and anticipates that the activity will return to pre-COVID levels in 2026. More S&P Global Market Intelligence Content: Webinar: M&A in Focus: Dealmaking Amid High Volatility Balance sheet, M&A and capital raising strategies for a volatile environment Navigating M&A Trends During Market Volatility Credits: Host: Joe Mantone Guest: Anu Singh Published With Assistance From: Sophie Carr, Patrick Moroney and Alison Perico
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M&A Outlook Brightens as Financial Sponsors Prepare to Ramp Up Activity
In this episode of The Pipeline podcast, Devin Ryan, an equity research analyst with Citizens JMP, provided insights into the current state and future prospects of mergers and acquisitions. Following a record-breaking year in 2021, the M&A landscape faced significant challenges in 2022 and 2023. However, Ryan expressed optimism that 2023 may represent a low point and activity is getting closer to more normal levels. A key factor in the recovery is the role of private equity firms and whether they start deploying more dry powder. More S&P Global Market Intelligence Content: Webinar: M&A in Focus: Dealmaking Amid High Volatility Price tags on biggest M&A deals grow larger in 2025 Balance sheet, M&A and capital raising strategies for a volatile environment Navigating M&A Trends During Market Volatility Credits: Host: Joe Mantone Guest: Devin Ryan Published With Assistance From: Sophie Carr, Patrick Moroney, Alison Perico and Feranmi Adeoshun
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How Tariff Turbulence is Impacting the M&A Market
In this episode of The Pipeline, S&P Global Market Intelligence's Joe Mantone speaks with Carole Streicher, the deal advisory and strategy service group leader for KPMG in the U.S., to discuss the evolving landscape of M&A activity amidst changing economic conditions. They discuss the initial pause in M&A due to tariffs, which introduced significant economic uncertainty, and how companies are now reassessing their supply chains and considering geographic expansion as a strategic response. Streicher shares insights from KPMG's recent mid-year M&A survey, revealing that despite the challenges posed by tariffs, dealmakers remain optimistic about M&A prospects for 2025 and 2026, driven by favorable tax policies and antitrust initiatives from the current administration. The conversation highlights the complexities introduced by tariffs, which not only add costs and time to deals but also complicate the valuation process. The episode also addresses sector-specific trends, noting that industrial manufacturing and consumer retail are most impacted by tariffs. Streicher emphasizes the increasing activity in the energy sector, driven by the growing demand for energy, particularly in relation to the AI revolution. Looking ahead, they discuss the critical need for thorough due diligence and scenario modeling in navigating the current M&A landscape. Join this insightful discussion that offers valuable perspectives on the current and future state of M&A, providing essential information for deal practitioners. More S&P Global Market Intelligence Content: Webinar: M&A in Focus: Dealmaking Amid High Volatility Balance sheet, M&A and capital raising strategies for a volatile environment Four $10B-plus deals in May contribute to M&A revival Navigating M&A Trends During Market Volatility Host: Joe Mantone Guest: Carole Streicher Edited By: Marz Marcello Published With Assistance From: Sophie Carr, Patrick Moroney, Feranmi Adeoshun, and Alison Perico
S&P Global Market Intelligence leverages its industry sources, data and analysis to discuss M&A, IPOs and all things dealmaking. Tune in for interviews with industry insiders who offer insights on the latest deal trends.
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