In a Hot M&A Market, Not All Combinations Are Winners

Mergers that create monopoly power are not good for the economy.

2021 has been a banner year for mergers and acquisitions. According to some estimates, M&A deals increased 158% in 2021 to $2.4 trillion, setting new records and reaching the highest levels since such data has been kept. These historic numbers have been driven in large part by the expanding trend of growth…