Despite disappointing data from the first half of the year, dealmakers continue to have faith in the second half, finds a recent online poll from Deloitte LLP, a New York firm that provides audit, financial advisory, tax and consulting services. Transactions in the middle market – valued at $1 billion or less – dropped 5 percent in the second quarter from the first quarter, according to Thomson Reuters. And yet 76 percent of the 1,800 professionals who responded to Deloitte’s online poll in May said they were significantly optimistic, more optimistic or maintaining their existing level of optimism about the M&A market for the remainder of the year.
“Deal people by nature are optimistic, but what also explains the overarching optimism now is that people see an improving economy, and they are being pushed by their shareholders and their boards to show growth,” says David Williams, CEO, Deloitte Financial Advisory Services LLP, in an interview. “There are only a couple of ways to get growth, and inorganic growth is one of the easier ways to get it.”