M&A news has recently been focused on the precipitous drop in SPACs over the last month. But while SPACs have slowed, dealmakers have continued to fire on all cylinders. 

With $469 billion in M&A activity, SPACs or no, April saw the second-largest monthly deal volume on record, according to financial data company Refinitiv. The largest was in March 2021, when $548 billion in deals were announced.