What the post-coronavirus dealmaking world looks like

Dealmaking is showing signs of life once again, bankers at JP Morgan Chase, Goldman Sachs, and Morgan Stanley say.

Bolstered by stabilizing equity markets and returning liquidity in the debt space, some deals are coming back. Liberty Global and Telefonica tied up their U.K. telecommunications businesses in a $39 billion deal in early May, completing the transaction even as negotiation moved online and into Zoom. Uber meanwhile is reportedly seeking a deal with Grubhub.

But the post-coronavirus M&A environment is certainly different from what it looked like before. Some companies are taking the opportunity to double down on verticals whose