Why There Are Fewer Public-To-Public M&A Deals

Believe it or not, corporate America does sometimes appear to heed the lessons of the past. In the M&A market, one such example is the pace of public-to-public transactions in the U.S. Since 1997, there have been two distinct cycles in public-to-public deal making in the U.S. From 1997 to 2001, the U.S. M&A market rose to record highs in terms of overall deal flow and M&A spending. Public-to-public deal making in the U.S. was no exception.