M&A in early 2024 experienced the strongest start in two years, with over $549B in global deal volumes, marking a 28% increase from Q1 of 2023. This was driven by a burst of megadeals. Despite this growth in deal value, recovery was uneven with the overall number of Q1 transactions falling 21% compared to the same period last year. Deal financing remains a challenge and global leveraged buyout activity continues to decline.