Majority of Irish CEOs to go ahead with deals despite economic headwinds, survey finds

A survey by professional services firm PwC found that 62% of Irish CEOs, and 60% of other respondents around the world, are not planning to delay mergers and acquisitions in 2023.

The report stated that investors and executives are likely to balance short-term risks with long-term business strategies in H2 this year.

Irish CEO’s remain optimistic about finalising deals this year amid economic headwinds as inflation in Ireland eases and exports increase.

A survey by professional services firm PwC found that 62% of Irish CEOs, and 60% of other respondents around the world, are not planning to delay mergers and acquisitions deals this year, despite volatile trading environments in other economies.

“With strong fiscal returns, continued foreign direct investment flows, a thriving export sector, high employment levels and indications that inflation may be easing, there are solid reasons why six out of ten Irish CEOs are not planning to delay merger and acquisition deals in 2023,” said PwC’s Paul Tuite.

PwC’s 2023 Global M&A Industry Trends Outlook report also showed that global merger and acquisition deals continue to face headwinds that are expected to increase in the second half of 2023.

The report stated that investors and executives are likely to balance short-term risks with long-term business strategies in H2 this year.

Technology, media, and telecommunications remains the most active sector for these deals globally, with a quarter of global deal volumes and values in 2022 despite the tech slowdown.

Global deal activity remains clouded by macroeconomic volatility due to rising interest rates, a steep decline in equity valuations, geopolitical tensions including the war in Ukraine and supply chain disruptions.

The global merger and acquisition market faced a challenging 2022 with deal volumes and values declining from record-breaking highs in 2021 but stayed above 2020 and pre-pandemic levels.