Mergers and acquisitions are tracking 10 per cent to 15 per cent ahead of last year’s numbers, both in terms of deal count and value, a report from the research and data analytics firm shows. (The Logic)

Talking point: PitchBook estimates M&A will top US$975 billion across 9,000 deals in the first half of the year, by the time all transactions are disclosed. The increased activity follows two years of slow deal-making, as high interest rates and inflated company valuations deterred investors. While corporate M&A rebounded last year, private equity—which is more sensitive to interest rates—didn’t pick up until the last quarter. The enterprise value of companies being bought hasn’t changed compared to last year, PitchBook found, suggesting a correction in valuations may finally be complete. The prospect for lower interest rates later this year also “instills optimism” for a more active M&A market, wrote PitchBook senior analyst Garrett Hinds.