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Goldman Sees Global M&A Volumes Defying Souring Credit Conditions

  • Rising rates, recession risks have soured lending conditions
  • Goldman sees buyout activity on track to match 2021 volumes

Global dealmaking is proving surprisingly resilient to a toxic mix of higher funding costs, slumping management confidence and a raft of economic challenges, according to a Goldman Sachs Group Inc. strategist.

Merger and acquisition activity has held up well this year, despite a less favorable funding environment, Sienna Mori wrote in a note, while pointing out that global volumes have come off 2021’s record highs. Even in a traditionally quieter summer period, $22.1 billion worth of takeovers were announced on Monday alone, data compiled by Bloomberg show.