The deal makers stopped integration and purchasing operations as a warning from the meeting room

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The deals in the second quarter decreased to the lowest level in a decade, with the exception of the first months of the epidemic, as the “Liberation Day” tariff in Donald Trump extended a set of uncertainty that forced the makers of deals to retreat from all the acquisitions except for the largest acquisitions.

The total number of deals announced in the three months to 30 June decreased to about 10900, according to the data of the London Stock Exchange group. With the exception of the second quarter of 2022, when Covid-19 markets were unveiled from global markets and only 10600 deals, the number was the lowest since the beginning of 2015.

The deal makers initially expected the most conservative White House to retreat and unleash a wave of acquisitions.

Instead, companies and investors were forced to move in a more dangerous geopolitical background than expected, while announcing a widespread tariff by the United States on April 2 and conflicts of driving fluctuations in the Middle East on the market.

“After the initial abundance of the month or the first month, the situation in the hall of the board of directors was cautious,” said Lorenzo Corte, head of global transactions at the Lawyer, Scandal Office.

Despite the escalation of trade tensions since the beginning of a quarter in April, LSEG data shows that the value of transactions is fixed from the first quarter of the year at a price of $ 969 billion, supported by a handful of strategic huge.

The deals of more than $ 10 billion increased by three quarters this year, with the most important transactions in the second quarter, including COX’s acquisition of $ 35 billion from Coxter Communications, $ 33 billion from Toyota Motor companies, and a union led by Abu Dhabi National Oil for Santos.

“There is a pent -up request to carry out large strategic transactions,” said Jim Langiston, a partner at the law firm Paul Weiss. “If companies will proof of integration and purchases, they want to be something that moves the needle, and that the bonus deserves risk.”

Also, the improper expectations of economic growth, inflation and the dollar were a special traction in the private stock industry, which makes it difficult to assess assets.

The world -backed global acquisitions slowed between the first and second of the year, from about 2,500 in the first three months to the closer to 1850 per second. There were 1,250 special shares deals in the first half of this year compared to the same period in 2024.

Dealming makers focused on acquisitions of public companies and selling or moving assets that are essential, according to Jens Welter, head of banking coverage for investment in North America.

These include transactions KKR acquisition of 4.7 billion pounds at the London Industrial Group GroupBP exploration to sell Castrol lubricants. Wilder said that the deals manufacturers were adding contracts to help agree on transactions in the cutting markets.

“Although we expect the sizes of the sculptures and companies to remain in record levels, transactions are very organized that include transfers and postponed mechanisms,” Wilter said.

Some of the advisers have been optimistic that the stable geopolitical expectations will lead to the occurrence of activity in the second half of the year.

Oliver Smith, a co-chief of Davis Polic’s practice of integration and purchases, said that accumulation in demand was like the first days of Covid-19 epidemic.

Smith said: “Then people realized that the sky was not falling and that things were taken for a while.” “It seems that the moment of time comes as soon as companies get used to uncertainty.”