2024 M&A Year in Review - Flipbook - Page 3
M&A Year in Review | 2024
Dear Clients and Friends
Welcome to the 2024 edition of our Hogan Lovells M&A Year in Review!
Each year, we publish the M&A Year in Review to express our gratitude to you — our clients
and friends — for the opportunity to work together and for the successes we have shared. We
hope you enjoy our review of dealmaking in 2024 and our outlook for M&A in 2025.
During 2024, M&A transaction values increased across the world, recovering from their
decade-low levels in 2023, to reach an aggregate deal value of approximately US$3.5 trillion.
These increases were attributable largely to a 25% rise in sponsor-related dealmaking and a
return of megadeals.
M&A transaction volumes improved during the third and fourth quarters of the year,
following a lackluster first half of the year. This resulted in an annual global increase of 1.5%,
even amidst a 3% decline in the United States.
Across sectors, technology M&A reasserted itself as the market leader by value and volume
in 2024, rebounding from 2023 lows as investor demand for AI, digital innovation, and
machine learning increased.
Our M&A Group is grateful to have worked with you over the course of the past year. Your
transactions propelled Hogan Lovells to more than 30 M&A league table rankings worldwide,
including top rankings for Global M&A and across Europe, France, Germany, Italy, the
Nordics, Spain, the United Kingdom, Canada, Latin America, Asia Pacific, and China.
We enter 2025 with measured optimism for substantial M&A activity, based upon strong
corporate fundamentals for strategics, significant capital held by sponsors, and reduced
regulatory intervention, and in anticipation of compromises to be reached across the
economic and diplomatic policies of new administrations. Our perspectives are set forth
within our 2025 M&A Outlook at page 70.
We appreciate the trust that you continue to place in us, and we look forward to supporting
you on your M&A transactions in the year ahead.
Best wishes for continuing success in 2025,
The Hogan Lovells M&A Group
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