Nearly six months ago it seemed that deal-making was done for the year as companies pulled back, needing to manage their own businesses during trying times rather than think about acquiring others.
Soon after the onset of the coronavirus pandemic — and the sharp economic contraction and stock market crash it caused — even already announced deals were in jeopardy. Some deals, such as Sycamore Partners’ plan to buy a majority stake in L Brands-owned Victoria’s Secret, fell apart.