JPMorgan’s Simon Says Mergers Could Get Ugly With Hostile Deals

The merger boom is about to get ugly, according to one of Wall Street’s top dealmakers.

“I do think you are going to see an increase in unsolicited, hostile activity,” Kurt Simon, global chairman of mergers and acquisitions at JPMorgan Chase & Co., said at a conference March 30.

PPG Industries Inc.’s unwanted overtures to Akzo Nobel NV, as well as Kraft Heinz Co.’s rebuffed attempt to buy Unilever, underscore how companies are attempting to push ahead with deals in the face of opposition, whether it’s political pushback or shareholder resistance.

It’s proof that the takeover frenzy of the last ...