Dealmakers Find It Slow Going in $1 Trillion Game of Catch-Up

Dealmakers are sweating the small stuff again as they fight to claw back lost ground in mergers and acquisitions.

The value of global deals stands at $1.9 trillion for the year through Sept. 28, according to data compiled by Bloomberg. That’s down $1 trillion — or about a third — on 2022 levels, and includes the smallest haul for a third quarter in more than a decade, the data show.

Bankers say they’re having to work harder on the details of the transactions that are getting over the line, with boards, investors and lenders keen to avoid joining a list ...