The Big Four firms are striking large and complex mergers & acquisition (M&A) investment banking deals, hitherto the preserve of bulge bracket investment banks, after having initially harnessed burgeoning mid-market appetite for buyouts in an evident democratization of the apex strategy tool.
According to the Mergermarket M&A league table for the years 2018–2022, the Big Four firms—EY, KPMG, PwC, and Deloitte—have participated in 500 M&A deals, including 133 undisclosed deals.
And, as demand for M&A has grown, particularly in the rapidly expanding mid-market, the firms have filled a market void by initially focusing on mid- and small-sized deals with lower fees and higher volume – and then, in the last four years, going after larger deals.
Source:
Economic Times
