1、1PitchBook Data,Inc.John Gabbert Founder,CEONizar Tarhuni Senior Director,Institutional Research&EditorialDylan Cox,CFA Head of Private Markets ResearchInstitutional Research GroupAnalysisContentsKey takeaways1Introduction2Overview2Geographic diversification5Currency impact6M&A by region7Regulatory
2、headwinds10Potential reversal in trends11Outlook13Published on December 20,2022PublishingDesigned by Megan WoodardDataTJ Mei Data AnalystAlyssa WilliamsData AnalystJinny Choi Analyst,Private EAnalyzing trends in foreign deals made by North American acquirersThe State of Cross-Border M&APitchBook is
3、a Morningstar company providing the most comprehensive,most accurate and hard-to-find data for professionals doing business in the private markets.Key takeaways Cross-border M&A activity has largely followed that of global M&A,slowing in 2020 and seeing an impressive uptick in 2021.International acq
4、uisitions have been a consistent and growing portion of dealmaking for North American buyers.GPs and corporations can accelerate growth by adding geographical diversification and gaining access to new markets,technologies,and products.Investors will continue to seek out attractive opportunities in f
5、oreign markets even as regulatory risk and sentiments supporting onshoring arise.Cross-border M&A is expected to slow down in the near term as investors assess the recent challenges and opportunities,and although deal flow in different regions may shift accordingly,long-term cross-border activity is
6、 likely to remain healthy.2PitchBook Analyst Note:The State of Cross-Border M&AIntroductionCross-border M&A has been steadily increasing over the past 20 years as both GPs and corporations in search of growth view the strategy as an attractive way to gain access to new markets and customers.Cross-bo