Dealmakers in 2021 seem to be breaking records at every turn. Record numbers of SPACs. Record numbers of IPOs. Record numbers of deals. Now, the total annual deal value of global M&A work has hit $5 trillion.

According to Refinitiv, that is 40% more than the full-year total for 2020 and 19% higher than the previous record for total M&A deal value, $4.2 trillion, set in 2015. And 2021 isn’t over yet.

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