Billion Dollar Failures

A look back at what happened and why in the 2014 M&A market, and what it says about current prospects, by Jeff Golman from Mesirow Financial. Last year had the highest level of M&A activity since the financial crisis, but it also had some spectacular busts, largely the result of new inversion regulations, high valuations and activist investors shaping the landscape. The momentum generated in today’s M&A market will be difficult to wind down, Golman says, and many large firms facing anemic growth will see acquisitions as a means to quick profits.