The M&A Dealmaker
May 2023 issue of The Dealmaker
Hello reader,
Welcome to the May 2023 issue of The Dealmaker.
Historically, M&A tends to slow down during times of economic volatility or uncertainty, but often these are the times when valuations become more attractive and new opportunities begin to emerge. 2023 so far has revealed ideal conditions for deal making due to valuation resets, lessened competition for deals, and new assets coming to market.
Here are some of the articles that our colleagues found interesting. Enjoy the reading and please send us ideas and comments:
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Global M&A shows resilience as prices drop
Mergers and acquisitions have undergone a grueling reset. High inflation, soaring interest rates, a tight labor market and tougher borrowing made it more challenging for firms to strike deals.
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UK watchdog to simplify IPO rules to boost tech listings
The UK's financial watchdog has proposed new rules to simplify domestic public listings in a bid to attract more tech and early-stage companies to its exchange.
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Regulators dust off rule books to tackle generative AI like ChatGPT
As the race to develop more powerful artificial intelligence services like ChatGPT accelerates, some regulators are relying on old laws to control a technology that could upend the way societies and businesses operate.
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TPG acquires Angelo Gordon in $2.7B diversification play
TPG said Monday it is acquiring Angelo Gordon, an alternative investment manager with $73 billion in AUM that specializes in credit and real estate investing, for $2.7 billion in a cash-and-equity deal.
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Mediterranean restaurant chain Cava files for IPO as revenue climbs
Mediterranean restaurant chain Cava saw its revenue rise 12.8% in 2022, according to regulatory filings released Friday as it filed to go public through an initial public offering.
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UBS expects $17 billion hit from Credit Suisse rescue, flags hasty due diligence
UBS estimates a financial hit of around $17 billion from its emergency takeover of Credit Suisse, according to a regulatory filing, and said the rushed deal may have affected its due diligence.
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In the world of startup valuations, there's generative AI—and everything else
Compared to 2022, median pre-money valuations for early-stage rounds of generative AI companies have jumped by 16% so far this year, according to PitchBook data. Meanwhile, prices for all other startups raising a Series A or Series B have dropped by nearly 24%.
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JP Morgan boss plays down risk of crisis after second biggest bank failure in US history
Jamie Dimon, the boss of JP Morgan, has played down the risk of a spiralling banking crisis after America’s biggest bank stepped in to buy most of collapsed lender First Republic in a $10.6bn (£8.5bn) takeover hurriedly brokered by US regulators.
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