M&A MARKET UPDATE MAY 2020 U.S. MONTHLY REVIEW
Notable Trends in May 2020
Year-over-year, deal count was down by 41.8% mainly due to the economic impact of COVID-19; however, capital invested increased YOY by 15.3% which was led by AbbVie’s acquisition of Allergan for 63 billion, which was officially finalized this month. The EV/EBITDA median multiple increased by 102.6% YOY and 60.7% compared to the previous month, meaning that investors are willing to pay a significant premium for earnings in this climate.