What's Behind the Great M&A Distortion?

The video discusses how the interest rate environment affects M&A, highlighting that it's a continuation of trends since the financial crisis. It explains the unique nature of M&A as a conviction-driven market and the impact of low risk-free rates on capital flows. The resurgence of mega mergers is examined, along with the challenges of achieving synergy in large deals.

Discuss the significance of risk-free rates in the context of the text.

What challenges do large companies face when pursuing mergers and acquisitions?