M&A Backlog Hit Record High in August

There was a lull in completed mergers and acquisitions in August, but researchers at Merrill Lynch are offering a more upbeat way to look at the numbers. A recent report from Merrill’s brokerage analysts found that the backlog of announced but still-incomplete transactions hit a record high last month. The backlog now consists of deals with a total value of $8.5 billion, promising a hefty slug of fees for investment banks when those deals close.