Ganesan expects more large tech M&A, driven by a permissive regulatory window, competitive pressure, high acquirer equity prices and the urgency to catch up in AI. Listen
Ganesan said a backlog of M&A held up under a different regulatory regime is now moving, and that this window may not last. In his view, each deal forces rival responses, as when AMD's purchase raises the question of whether Nvidia must react. He added that richly valued acquirers can do large deals cheaply relative to their market caps.
“every acquisition forces a bunch of comparative dynamics we have to consider.”
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