Steever says the only thing that could slow down the pace of the mergers and acquisitions is if the federal government defaults. "That is driving people nuts on many fronts," he says. "We should have this settled in the next week or so, but stuff like that is exactly what tends to slow up activity. People aren't sure what their revenues are going to be."
It was the same scenario in 2010 as Congress wrangled with the healthcare reform bill. "The acquisition activity was impossible to predict. It was very slow," Steever says. "Once healthcare reform passed it really picked up. That is because people finally figured that we know we have what our revenues are going to look like. That means we can place a valuation on companies that want to buy or sell."