Dealmaking expanded in April but not as rapidly as in March, according to Mergers & Acquisitions’ M&A Conditions Index (MACI). The MACI composite score was 54.0, down from 57.5 the previous month.

The index component that dropped the most was Divestitures, which fell 12 points. Corporate spin-offs fueled activity in 2016, especially in the first half of the year, but they may be tapering off in 2017.

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