Investment bankers see dealmaking lull storing pent-up demand

NEW YORK, Nov 8 - Some of the world's top investment bankers said on Wednesday that a drop in corporate dealmaking in 2023 sets the stage for a pick-up in activity once uncertainty around the global economy, geopolitical conflicts and regulatory hurdles subsides.

"CEOs and corporate boards do not need to have a very clear picture of what the future will look like, but they need a degree of stability," Goldman Sachs Group Inc global M&A co-head Stephan Feldgoise said at a Reuters NEXT conference panel."I'm reasonably bullish that this will return, but obviously it will be in fits and starts."

"You can see why some companies are saying, if I don't have to do this deal now, maybe it is more prudent to wait," Bank of America chairman of global M&A Steven Baronoff told the panel. JPMorgan Chase & Co global M&A head Anu Aiyengar pointed out these two deals were all-stock and said more companies are using their shares as currency to overcome acquisition targets' concerns about locking in a cheap valuation, which they would risk if they sold for cash.

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