The total value of mergers and acquisitions (M&A) in the U.S. and Canada dropped to $1.477 trillion in 2022, down 41.4% from 2021, said a study. The number of transactions in 2022 fell 21.2% year over year to 20,965.

According to S&P Global Market Intelligence data, activity was particularly slow in the second half of 2022 with $517.85 billion of deals, down 38.2%