The evolving deal-making landscape presents unique challenges and opportunities for the M&A market, characterized by interest rate fluctuations and geopolitical uncertainties. Global M&A activity saw two consecutive annual declines in 2023 and 2022 following the boom year of 2021, where a large amount of dry powder combined with very low interest rates led to a record-setting year. Despite the recent slowdown in M&A deal activity, investment bankers remain cautiously optimistic about the evolving deal-making landscape and an increase in new opportunities.