This one may hurt.
In Dealogic’s huge first half round-up of Wall Street banking activity one chart laid out the missed connections that have plagued Wall Street to start 2016.
The value of withdrawn mergers and acquisitions hit its highest level since 2007 according to Dealogic, with $524 billion in deals scuttled in the first half of this year.
While there were actually fewer deals abandoned during the first half than the same time period last year, the average value of the withdrawn deals was simply huge.
“There were fewer deals withdrawn in 1H 2016 (down 22% year‐on‐year) but eight of these deals were in the $10 billion+ range, five of them announced in 2015 and two in 1H 2016,” said the report.
The Pfizer-Allergan deal — a victim of government scrutiny — was the largest withdrawn deal of all time at $160 billion.
So Wall Street dealmakers can only sit back and sigh, thinking of the millions upon millions in fees that got away.
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