Despite a strong start to the year, deal activity in the US faced new challenges in 2022 as headwinds gathered.

US deal activity saw an annual decrease in H1 of this year, but remains buoyant compared to pre-pandemic standards

US M&A had an extraordinary year in 2021, with total deal value reaching US$2.6 trillion—surpassing US$2 trillion for the first time

US M&A set a new record for value in H1 2021—and nearly surpassed the full-year figure for 2020

After a turbulent 18 months which saw M&A crash before an impressive return to form, H2 2021 is set for continued strong deal activity, as well as new challenges

The US enjoyed record levels of M&A activity in H1 2021, as dealmakers made up for lost time caused by pandemic-related disruptions

The past year has been tumultuous for M&A activity, but with a COVID-19 vaccine rollout underway and pent-up demand among PE firms, the fundamentals are in place for a busy year in 2021

The TMT sector was buoyed by global spikes in demand as the world shifted toward virtual interactions in every walk of life

US M&A activity fell precipitously in the first half of the year but picked up again in H2, especially at the upper end of the market

US deal activity held up remarkably well in the face of unprecedented uncertainty in 2020, with total deal value in H2 surpassing the previous year

After deal activity stagnated in H1, the third quarter offers some hope for dealmakers, as deal volume and value surpass Q3 2019

A majority of dealmakers say their companies are focused on defense or survival, but about a quarter are actively pursuing growth.

As the COVID-19 pandemic spread, global M&A value dropped to the lowest half-yearly total since H1 2010