Business

Plus, TuSimple looks to unload. | Thursday, June 29, 2023   Open in app View in browser   Presented By Silicon Valley Bank   Axios Pro Rata By Dan Primack · Jun 29, 2023     Top of the Morning Illustration: Sarah Grillo/Axios   If you've come for growth, you've come to the wrong place. Almost every major deal market metric was down sharply in the first half of 2023, according to preliminary data from Refinitiv. By the numbers: Global M&A hit $1.3 trillion year-to-date, which is down 38% over the same period in 2022 and not too much higher than the COVID shock era of H1 2020. Remove 2020 and it's the lightest first half figure in a decade. U.S. M&A was down 41% in terms of dollars and 5% in terms of deal number, reflecting a relative dearth of large transactions. Europe's dollar volume shr...

Plus, KKR gets a Circor challenger. | Wednesday, June 28, 2023   Open in app View in browser   Presented By Silicon Valley Bank   Axios Pro Rata By Dan Primack · Jun 28, 2023     Top of the Morning Illustration: Shoshana Gordon/Axios   When the U.S. began shipping missiles to Ukraine last year, the defense community believed new supply could be spun up with relative ease. But that faith was misplaced, leading to missile stockpile shortages and an unexpected merger. Why it matters: What's now a supply chain glitch could become a national security nightmare were the U.S. to be drawn into a larger war, in Ukraine or somewhere else. Driving the news: Anduril, the defense-tech "unicorn" formed in 2017 by Oculus founder Palmer Luckey, recently acquired Adranos, a Mississippi-based maker of solid roc...