For the fourth consecutive year, the total value of global M&A transactions is projected to surpass $3 trillion. But instead of being driven by large-scale consolidation, this year’s M&A environment has been characterized by smaller deals, says John Waldron, global co-head of the Goldman Sachs Investment Banking Division. He points to legislative gridlock in Washington and regulatory uncertainty as reasons for the shift, but says that even as it remains difficult to forecast the political backdrop, investors have remained broadly supportive of transactions across both the debt and equity markets. . Goldman Sachs official video

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