At Allen & Co.’s annual moguls conference in Sun Valley this week, the summer heat will make you think you’re seeing big deals just down the road ... but you’re not
this week for the annual Allen & Co. conference. As is the case every year, speculation about dealmaking will be intense among observers with their noses pressed against the tinted glass, trying to sneak a peek inside the caravan of Uber Luxes depositing their mogul passengers, who typically offer nothing but a smile and a wave to onlookers.
According to S&P Global Market Intelligence, global M&A in Q1 was 23% lower than the same period a year earlier. The total value and number of global M&A deals announced in Q1 were both lower than any quarter in 2022. Execs have been in a wait-and-see mode as interest rates continue to ratchet higher and overall financial conditions remain tight.
Even if no major deals are solidified at Sun Valley this year, there certainly could be some backdoor chats and important seeds planted. With Paramount Global non-executive chair Shari Redstone likely in attendance, it will be interesting to see who she interacts with as her company remains top of mind as an M&A candidate.
Both Microsoft CEO Satya Nadella and Activision CEO Bobby Kotick are expected to be attending this year’s event. As the deal looks like it could be in jeopardy, perhaps Nadella and Kotick take this opportunity to further strategize the deal and their path forward.
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