The wave of major merger-and-acquisition activity expected in 2018, spurred at least partially by the corporate tax reform that gave US-based companies a lower corporate tax rate and the chance to repatriate off-shore cash at a low rate, did not materialize.
Why The M&A Boom Many Expected In 2018 Didn’t Happen
High valuations, an uncertain biopharma macro environment and widespread use of US tax reform benefits for share buybacks and capital investments resulted in less major M&A than expected. Opinions vary widely on whether 2019 will be any different.
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