By the Numbers: 5 Biggest M&A Deals Aided by Big Law in 2023
Summary
Topping that list are energy deals, which outperformed the rest of the market and leaned on benefits from commodity prices. Healthcare and pharmaceutical deals also sat on top, with companies boasting strong balance sheets from cash infusions during the pandemic. In October, <-bsp-article-citation state="{"cms.site.owner":{"_ref":"00000166-e5a9-d785-a767-fffdcac50000","_type":"00000151-acf5-d1ce-a159-bff728d6001e"},"cms.content.publishDate":1702058789574,"cms.content.publishUser":{"_ref":"00000186-dc2c-d0f2-a1a6-ff2c1bcd0000","_type":"00000151-acf5-d1ce-a159-bff728d8001b"},"cms.content.updateDate":1702058789574,"cms.content.updateUser":{"_ref":"00000186-dc2c-d0f2-a1a6-ff2c1bcd0000","_type":"00000151-acf5-d1ce-a159-bff728d8001b"},"articleCitation":{"_id":"0000018c-4a9b-de42-a3ad-7ebfc5fe0000","_type":"00000160-bca2-df03-a1ef-bcef37330000"},"_id":"0000018c-4a9b-de42-a3ad-7ebfc5f90000","_type":"00000160-bca2-df03-a1ef-bcef37350000"}">announced -bsp-article-citation>its all-stock $59.5 billion acquisition of rival Pioneer Natural Resources Co., marking the largest deal put forward this year. The mega healthcare deal was a product of Pfizer’s generous cash holdings from sales of Covid vaccines and therapies. Pfizer Chief Executive Officer Albert Bourla told analysts last year the company planned to add $25 billion in revenue through dealmaking by 2030.