On Tuesday, November 3, 2026, Michal Katz, Head of Investment & Corporate Banking, Mizuho Americas, joined Dani Burger on "Bloomberg Deals" to share her perspectives on the state of dealmaking amid the ongoing uncertainty, including the U.S. midterms. She shared that CEOs have been adept at navigating volatility; the big difference in today’s environment is that while the bar for execution has been raised, so has the cost of staying on the sidelines.
Michal also talked about scale as a common thread in the dealmaking environment across IPOs, M&A, financings and even LBOs. Scale solidifies market leadership, determines access to capital, pricing and staying power.
Looking ahead, Michal said she does not expect the election outcome to materially change the M&A environment. The antitrust backdrop has remained favorable and review does not hinge on congressional control alone. If anything, we may see deal activity be pulled forward as companies have an incentive to act while regulatory approval is more accommodative.
The focus on scale is expected to continue into 2027, as corporates face growing urgency to transform and future-proof their businesses, and the AI and power build out require capital on a scale that private markets alone cannot supply. Michal also pointed to signs that deal activity is broadening beyond AI and megadeals, including increased sponsor activity, although momentum is likely to vary across sectors.
Watch the full interview now: Link to Bloomberg Video
