德勤:美国并购的未来趋势(英文 26 页)

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M&A Trends Survey: The future of M&A

Deal trends in a changing world

Deal trends in a changing world 

Surveyed M&A executives are sending clear and strong signals that dealmaking—particularly alternatives to “traditional” M&A—will be an important lever as businesses recover and thrive in the post–COVID-19 economy. Deloitte’s Future of M&A Trends Survey polled 1,000 executives at US corporations and private equity investor (PEI) firms between August 20 and September 1, 2020 to assess current and future M&A plans: more than half of these US dealmakers (61%) expect M&A activity to return to pre–COVID-19 levels within the next 12 months. 

Key highlights: 

•Given current economic and political uncertainty, 42% of survey participants indicate increased interest in alternatives to traditional M&A

•One-third (33%) of dealmakers surveyed are responding to structural sector disruption by accelerating long-term transformation of their business models as part of their M&A strategy in response to COVID-19

•Cybersecurity threats are top of mind for more than half (51%) of respondents as companies manage deals virtually

•The biggest challenges to M&A success are now uncertain market conditions, translating business strategic needs into an M&A strategy, and valuation of assets

•Interest in international dealmaking has declined; focus has shifted to domestic M&A opportunities

•The anticipated impact of the 2020 US presidential election on corporate and PEI dealmakers’ willingness and ability to do deals is nearly split: 25% of respondents say uncertainty surrounding the election has slowed deal activity, and 23% say it has accelerated deal activity

应对瞬息万变的世界中的趋势

接受调查的并购高管正在发出明确而有力的信号，表明交易-尤其是“传统”并购的替代方式-将成为重要的杠杆，因为企业在COVID-19后经济中复苏并蓬勃发展。德勤的2020年8月20日至9月1日之间，对德勤美国公司和私募股权投资者（PEI）公司的1,000位高管进行了民意调查，以评估当前和未来的并购计划：这些美国并购交易者中超过一半（61％）期望并购活动在接下来的12个月内恢复到COVID-19之前的水平。

主要亮点：

•考虑到当前的经济和政治不确定性，42％的调查参与者表明对传统并购替代方案的兴趣增加

•接受调查的交易者中有三分之一（33％）通过加快业务模式的长期转型来应对结构性行业的混乱，这是其针对COVID-19的并购战略的一部分

•网络安全威胁是一半以上（51％）受访者最为关注的问题，因为公司实际上在网络上管理交易

•并购成功的最大挑战是不确定的市场条件，将业务战略需求转化为并购战略以及资产评估

•对国际交易的兴趣下降了；重点已转移到国内并购机会

•2020年美国总统大选对企业和PEI交易制定者的意愿和能力的预期影响几乎是分开的：25％的受访者表示围绕选举的不确定性减慢了交易活动，而23％的受访者表示已加快了交易活动