The Debt-Fueled M&A Boom Struggles With a Tough New Reality

Companies that relied on cheap credit to fund big mergers and acquisitions during the boom times are struggling amid higher interest rates. They have been paying average premiums of more than 40% to get deals done this year, Bloomberg-compiled data show — one of the highest annual figures on record. A reckoning may now be coming for corporations that need to refinance debt if they can’t deliver on promises made or earnings growth.

Read The Big Take.