Global M&A Report 2024 Gaining an edge in a market resetThis work is based on secondary market research, analysis of financial information available or provided to Bain & Company and a range of interviews with industry participants. Bain & Company has not independently verified any such information provided or available to Bain and makes no representation or warranty, express or implied, that such information is accurate or complete. Projected market and financial information, analyses and conclusions contained herein are based on the information described above and on Bain & Company’s judgment, and should not be construed as definitive forecasts or guarantees of future performance or results. The information and analysis herein does not constitute advice of any kind, is not intended to be used for investment purposes, and neither Bain & Company nor any of its subsidiaries or their respective officers, directors, shareholders, employees or agents accept any responsibility or liability with respect to the use of or reliance on any information or analysis contained in this document. This work is copyright Bain & Company and may not be published, transmitted, broadcast, copied, reproduced or reprinted in whole or in part without the explicit written permission of Bain & Company.Copyright © 2024 Bain & Company, Inc. All rights reserved.AcknowledgmentsThis report was prepared by the leadership team of Bain & Company’s Global M&A and Divestitures practice, with special direction from Les Baird, partner; David Harding, advisory partner; Dale Stafford, partner; Kai Grass, partner; Suzanne Kumar, practice vice president; Lindsey White, senior manager; and an editorial team led by David Diamond.The authors wish to thank the many members of the Bain leadership team who contributed articles to this year’s report. Additionally, we wish to thank the following colleagues for their help with this report: Bain Partners Harshveer Singh, Peter Horsley, and Colleen von Eckartsberg; Practice Managers Dwight Stalls and Anna Nowak-Dzialak; Practice Senior Analyst Amol Mathur; Consultants Shane Porter and Aysha Rashid; Senior Associate Consultant Jayson Chung; and Associate Consultant Katie Jones. This work additionally benefited from the support of Bain Capability Network’s Abhishek Jain, Roopam Kalra, Chhavi Khandelwal, Sanya Kataria, Yashovardhan Dey, and Suprakash Gosh.1Global M&A Report 2024ContentsLetter from the Leader of Bain’s M&A Practice . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3State of the Market . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5Looking Back at M&A in 2023: Who Wins in a Down Year? . . . . . . . . . . . . . . . . . . . . . .6Looking Ahead: How the Big Backlog Will Shape the 2024 M&A Agenda . ....
