| In the six months since we launched our Global M&A Report we’ve seen turbulence and disruption escalate markedly around the world, and that’s likely to continue throughout the year. But the fundamentals exist for continued robust M&A activity, and we would caution companies against becoming too conservative in their M&A strategies. Our research finds that the greatest competitive market shifts take place during times of turmoil. Companies that invest throughout the economic cycle have far superior returns than those that participate sporadically. We believe that winning M&A teams will revise their playbooks and deploy scenario planning to rigorously assess a range of outcomes in five key areas. Our midyear report addresses those areas and provides a list of questions companies can use to guide their approach to M&A in this fraught environment. We also analyze 2022 M&A activity to date and find that while it may not surpass 2021’s record-breaking M&A activity, it remains on track for a remarkably strong year. We will analyze relevant M&A trends and market factors in a live briefing, which we invite you to attend. Meanwhile, please reach out if you’d like to discuss any of our findings in more detail. | 