NEW YORK/LONDON -- Global mergers and acquisitions (M&A) activity shrank to its lowest level in more than a decade in the first quarter of 2023, as rising interest rates, high inflation and fears of a recession soured the appetite of companies for dealmaking. M&A volumes during the first quarter slumped 48% to $575.1 billion as of March 30, compared to $1.1 trillion during the same period last year, according to data from Dealogic. A banking crisis that started in the United States this month with Silicon Valley Bank and spread to Europe with the Swiss government-orchestrated sale of Credit Suisse Group AG (CSGN.S) to UBS Group AG (UBSG.S) roiled markets and stopped many deals in their tracks, investment bankers and lawyers said. "The first quarter had extraordinary levels of volatility and uncertainty - more than expected going into the year. And that has the impact of postponing some announcements," said Anu Aiyengar, global head of M&A at JPMorgan Chase & … [Read more...] about Global dealmaking sinks to lowest level in over a decade