Dealmakers to Miss $3 Trillion Mark for First Time in 10 Years

Dealmakers are coming to the end of their worst year for mergers and acquisitions in a decade, having seen hopes of any meaningful recovery choked off by reluctant lenders and geopolitical flare-ups.

The value of M&A and related transactions is down roughly a quarter this year to $2.7 trillion going into the holiday period, data compiled by Bloomberg show. That’s the lowest annual total since 2013, which was also the last time deal values failed to hit $3 trillion in a calendar year, the data show.

The slump leaves investment bankers facing a bleak bonus season and more job cuts ...