Jet-Setting Bankers Grounded With Virus Fears Hobbling M&A (1)

March 5, 2020, 12:29 PM

Dealmaking across the world is being hampered by the spread of the coronavirus, grounding jet-setting investment bankers and threatening a decade-long boom in mergers and acquisitions.

One adviser who usually flies 250,000 miles (400,000 kilometers) a year said he’s canceled all upcoming trips to Asia, Europe and the Middle East. Five transactions his firm was working on have been put on hold, including one where a member of the other party’s deal team tested positive for the virus.

The volume of M&A announced through the end of February was down 27% to $419 billion, the slowest start to a year ...

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