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Overview of M&A activity

Following a record-level of deal activity in the year 2021, a decline was noticeable during the first six months of 2022, with 281 transactions with a Swiss party involvement being announced, the third highest number ever, only beaten by the first and second halves of 2021. In terms of transaction volume, the overall value of announced deals amounted to US$84 billion, which exceeds the average transaction volume of the past 10 years. However, as a result of the global macroeconomic developments, a significant downturn in deal activity was observed in the third quarter of 2022. It remains to be seen to what extent the uncertainties will persist and impact the M&A activity in 2023.