M&A activity is on the rise, and AI can get deals to the finish line faster. 

In the third quarter, 52 U.S. bank deals were announced, marking the most in a quarter by quantity since Q3 2021, according to S&P Global’s October M&A report. 

Top Q3 deals include: 

• Pinnacle to acquire Synovus Financial for $7.9 billion; 

• PNC to acquire Firstbank Holding for $4 billion; and 

• Huntington Bancshares to acquire Veritex Holdings for $1.9 billion. 

As M&A activity rebounds, AI can streamline time-consuming and manual tasks, Raj Bakhru, general manager of Blueflame, a business unit of Datasite, told FinAi News. 

“AI is reshaping the way deals are done, from automating repetitive tasks and powering data analysis to easing processes across all phases of the deal,” Bakhru said.  

For example, due diligence is time-consuming and expensive, he said. Every week that due diligence drags on, the risk of a deal coming apart increases by almost 50%. The due diligence process can cost around $100,000 per week. 

“The M&A due diligence process is one of — if not the most — labor-intensive processes in dealmaking,” Bakhru said. “Dealmakers are excited to use AI to help make the process more efficient and effective.” 

AI can be implemented for: 

• File categorization and organization; 

• Summarization and search; 

• Redaction and translation. 

“AI is transforming how investors and dealmakers approach deal strategy, due diligence and integration,” he said. 

M&A in Q4 looks like it will continue to trend up, according to S&P Global, citing as an example the Fifth Third Bank $10.9 billion acquisition of Comerica announced Oct. 6. 

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