The M&A boom is slowing, and big banks are eyeing smaller deals. Although mega-mergers account for the majority of U.S. deals by dollar value, there's a larger amount of small deals being closed. And Wall Street is perking up.
The Wall Street Journal reports that investment bankers are "tripping over themselves, and sometimes each other," to win business advising much smaller companies that they would've never even considered a few years ago. The article notes: "A Goldman Sachs Group partner cold-called his way onto a $162 million stock-offering deal for a Texas-based chemicals company. Citigroup Inc. sent a chairman to pitch for a $140 million tech deal. And JPMorgan beat out four other banks to represent Cianna, which sold for $200 million to Merit Medical Systems Inc."