2024 GS Outlook: What to Expect in M&A and Beyond

As we head into the new year, it’s important to take stock of what to expect in the coming months. According to GS analysis, large-scale M&A is expected to normalize after a slow start in 2024. But that’s not the only trend to watch.

We’ve also seen a shift toward older economy sectors such as industrials, materials, power, and natural resources. And while sponsors have been less active in M&A, more corporate buyers are participating, with a notable focus on take-private activity

Companies are simplifying their portfolios and focusing on strategic and financial restructuring, while activist campaigns are expanding, including a focus on large-cap companies. Take-private transactions have continued at a near-record pace due to various factors, including attractive buyout offers.

But there’s good news for sponsors: activity is expected to gain momentum in 2024 as the environment stabilizes. With all these trends in mind, it’s clear that 2024 will be a year of change and opportunity. Stay tuned for more insights as the year progresses.