Preliminary data from PitchBook suggests that August was a slow month for national and Midwest merger and acquisition (M&A) activity. In the US, fewer than 500 deals were completed during the month, a nearly 25% reversal of the recovery we began to see after May’s lows. Similarly, M&A activity in the Midwest fell to the lowest level of the year. However, the data may not be as dreary as a first glance shows – more than 150 deals were announced in the US during the month, estimated to account for over $110 billion in transaction value. Furthermore, the Midwest had one deal announced during the month that topped $1 billion – Waystar Health announced during the month that it would acquire Overland Park-based eSolutions for an estimated $1.35 billion.