ThebeginningofanewM&AseasonFutureofthedealM&AContentsExecutiveSummary012018:Dealspeak,butsodoescomplexity02Divestmentsontherise04ReturnofPrivateEquity08ImpactofUStaxreformonM&A11DisruptionisfuellingM&Ainvestments14M&Aoutlookforregions28Dealcorridors30M&Aoutlookforsectors43Authorsandcontributors56Endnotes57SriramPrakashGlobalLead,M&AInsightandDisruptiveM&A+44(0)2073033155sprakash@deloitte.co.ukIainMacmillanGlobalManagingPartnerforM&AServicesandTransactionServices+44(0)2070072975imacmillan@deloitte.co.ukContactsThebeginningofanewM&AseasonFutureofthedealMergersandacquisitionsareundergoingaperiodofimmensechange.Lastyear,globaldealvolumesclimbedfourpercentto49,612deals,howeverdealvaluesfellmarginallybytwopercentto$3.1trillion,asmegadealsslid.Butinthefirstfourmonthsof2018,nearly$1.7trillionworthofdealshavebee