In May, deal flow expanded but not as quickly as the previous three months, according to the Mid-Market M&A Conditions Index (MACI), a barometer created by Mergers & Acquisitions and sponsored by PwC. (See related graphic.)

The slowdown followed three months of increases on the MACI. May yielded a Composite Score of 56.0, nearly two points lower than April's 57.9, which was the highest since October, when it hit 59.9. Dealmakers in April continued to forecast that M&A in 2015 will outshine 2014, which was a great year.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.