For the second week in a row, deal activity hit highs not seen thus far in 2022, with at least 13 deals over $1 billion reported, along with four new SPAC mergers. Still, SPACs and IPOs remained suppressed, with neither registering an entrant in the last week.
Among those 13 $1 billion deals were three mega-deals over $5 billion. That includes two big deals announced Monday: Pfizer, with counsel from Wachtell, Lipton, Rosen & Katz, agreeing to a $5.4 billion deal for Global Blood Therapeutics, advised by Cravath, Swaine & Moore and Goodwin Procter. Meanwhile, in an $8.4 billion deal, private equity firm Vista Equity Partners, advised by Kirkland & Ellis, said it will acquire tax software provider Avalara Inc., which has turned to Simpson Thacher & Bartlett and Perkins Coie for legal advice.