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In 2023, Italy's M&A landscape demonstrated a notable decline, registering a 30% decrease compared to the same period in 2022. The first half of 2023 witnessed 433 transactions with a total value of €11.6 billion.

Despite this overall decrease, M&A activity in Q2 2023 remained relatively stable, showing no significant change compared to both the previous quarter and Q2 2022. The composition of Italy's business environment is predominantly characterized by small and medium-sized enterprises (SMEs). These enterprises view M&A as a crucial strategy for expansion and fortification, and serial acquirers play a significant role in fostering long-term value and innovation within the market. Foreign companies considering M&A transactions in Italy face challenges associated with navigating the country's legal, financial, and cultural landscape. The regulatory environment is a particularly important consideration for companies seeking to undertake M&A activities in Italy. Understanding and adapting to the unique intricacies of the Italian regulatory framework is essential for successful transactions and long-term business integration. In summary, Italy's M&A landscape in 2023 saw a decline in overall activity, but specific quarters remained resilient. The prevalence of small and medium-sized enterprises, coupled with the strategic importance of M&A for business expansion, highlights the dynamic nature of Italy's market. Companies entering this landscape must carefully navigate regulatory challenges to ensure successful and sustainable M&A transactions.

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About Fredericks Michael & Co.
Established since 1984, Fredericks Michael provides distinctive financial advisory solutions to large corporations, private and family-controlled businesses, and financial sponsors seeking to execute cross-border mergers, acquisitions, divestitures and strategic alliances in Europe, the Americas and Asia.
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