Dealmaking Hits Bump as Market Slump Overshadows Cash Pile

Concerns about a declining global stock market and slowing economic growth are taking a toll on dealmaking, with takeovers in June tumbling to the lowest level in eight months.

The total value of takeovers announced so far this month fell 22 percent from May to about $178 billion, leaving second-quarter volume little changed from the previous three months, according to data compiled by Bloomberg. At least two banks went for a week or more without a new mandate starting at the end of May, said senior advisers who declined to be identified. Business has been sluggish since then, they said.