“Merger Monday” the most active day of dealmaking each week, recorded its lightest volume in five years.
“Everyone is trying to catch their breath and figure out what it means, there’s going to be a continued slowing of announcements over the next month or so.”
Chris Abbinante, Sidley Austin M&A Lawyer
94 major corporate transactions were announced globally on Monday with a combined value of $2.3B. The only other Mondays with lower deal volume fell on U.S. public holidays. Companies that traditionally look for buying opportunities in a downturn are racing to preserve liquidity and financing in order to weather the coronavirus crisis.