LAZARD, INC. 
(MT Newswires) -- Mark McMaster, global head of mergers and acquisitions at Lazard, notes that even with high borrowing costs, companies continue to borrow to finance acquisitions. He expects this trend to continue, even with changing expectations around interest rates.
He has seen an increase in deals where companies pay entirely with their own shares, rather than with borrowed money. These now account for more than a third of all deals, which is important because it means that companies are not taking on more debt to merge.
McMaster acknowledges that the volatility of the market might seem to work against deals. In his view, on the contrary, it can be a good thing for mergers and acquisitions, because companies' shares are worth less, which can make deals more attractive.
Regarding anti-trust laws that prevent companies from becoming too powerful, McMaster says that as long as companies plan well and follow the rules, they can still succeed in merging or acquiring other companies.
He notes growing activity in the consumer and financial institutions sectors, in addition to the technology, healthcare, industrial and energy sectors that are already active. He attributes this activity to companies' search for growth, whether through internal development or acquisitions.
