Broadcom blow threatens to burst the M&A bubble
It has been the busiest first quarter ever for M&A announcements. Deal makers are becoming exuberant amid strong growth synchronized across the developed markets. But rising protectionism in the biggest M&A market of all could yet turn a banner year into one to forget. Should investment bankers fear the new Trump effect?
Illustration: Morten Morland
The typical investment banker working in mergers and acquisitions tends to be shrewd, considered and a little bit ruthless. You don’t rise up the ranks without becoming good at weighing all your clients’ strategic options with unemotional clarity; learning to roll with the blows in the heat of battle during contested takeovers; and adept at calmly persuading third parties – board directors, shareholders, analysts, regulators – round to your view of the rights and wrongs of a deal.