Global merger and acquisition (M&A) activity has weakened in the first quarter of 2022 with total transaction value dropping to $725 billion-almost 23% lower than Q4 2021, said a study.

According to GlobalData, this is a sign that activity is going back to 'normal', after the staggering growth seen in 2021.

The report notes that a total of 9,207 M&A deals were