Accountancy

View: How lockdown proved the M&A defeatists wrong

The idea that deals can't be done remotely has been proved categorically wrong during the pandemic

Far from being crushed by Covid-19, mergers have become more compelling than ever
Far from being crushed by Covid-19, mergers have become more compelling than ever Photo: Getty Images

"Everything ground to a halt, full stop," recalls an M&A adviser as the pandemic struck.

When global lockdowns came into effect last year, it was not uncommon to hear figures in the industry sound a baleful note about their future. There would be simply be no way that deal would ever go through without a firm handshake. New prospects just wouldn't open up without the ability to look into the whites of one's eyes and build a relationship of trust. Due diligence, when done remotely, would simply be a leap too far. When trying to navigate the unbridled chaos of Covid, there would be no way that executives would have the time to entertain merger discussions.

WSJ Logo
U.S.’s Biggest Asian Allies Ready Last-Ditch Trade Appeal to TrumpExternal link

U.S.’s Biggest Asian Allies Ready Last-Ditch Trade Appeal to Trump