Legal Business

The Last Word: Opportunity knocks

The deal market tailed off at the end of 2018 after a generally resilient year. Here we ask the City’s leading corporate players for their prognosis on 2019

Powder dry

‘2018 started with a bang, but overall it was a tale of two halves. With competition for assets pushing valuations to eye-watering levels, investor fatigue and a degree of scepticism around the value-creating potential of M&A also took a toll. Looking forward to 2019, many of the factors that supported activity last year remain relevant. These include global growth, strong balance sheets, affordable debt and plenty of dry PE powder. But it’s hard to see 2019 topping 2018. We don’t expect a major correction, but we do anticipate a dip.’
Bob Bishop, co-chair of corporate, DLA Piper