Coming off a strong December, M&A began 2021 down by most measures. In the U.S., total deal value and deal count were down 36% and 4%, respectively, with strategic deals accounting for a larger portion of the declines. Sponsor deals were more mixed, with a 14% decrease in deal value but a 15% increase in deal count. Globally, total deal value and deal count were similarly down 34% and 18%, respectively, again with strategic deals accounting for more of the slowdown than sponsor deals.
