Company: LAZ
Filing Date: 2025-07-25
Form Type: 10-Q
Source: 0001311370-25-000022
Chunk: 232

Company: Lazard, Inc.
Filing Date: 2025-07-25
Form: 10-Q
Item: Part II, Item 8
Chunk 232
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 to focus on the development of our business, including the generation of revenue growth, earnings growth and shareholder returns, the evaluation of potential growth opportunities, the investment in new technology to support the development of existing and new business opportunities, the evaluation of other strategic alternatives, the prudent management of our costs and expenses, the efficient use of our assets and the return of capital to our shareholders.

Certain industry-wide market data with respect to our Financial Advisory and Asset Management businesses is included below. 

Financial Advisory

The following table sets forth global M&A and restructuring industry statistics for completed and announced M&A transactions and completed restructuring transactions. 

Three Months EndedJune 30,Six Months EndedJune 30,20252024%Incr / (Decr)20252024%Incr / (Decr)($ in billions)Completed M&A Transactions:All deals:Value$814 $801 2 %$1,646 $1,467 12 %Number7,184 9,725 (26)%15,871 19,636 (19)%Deals Greater than $500 million:Value$666 $617 8 %$1,320 $1,098 20 %Number253 275 (8)%541 525 3 %Announced M&A Transactions:All deals:Value$1,086 $823 32 %$2,166 $1,699 27 %Number8,359 10,580 (21)%17,836 20,791 (14)%Deals Greater than $500 million:Value$892 $605 47 %$1,768 $1,293 37 %Number341 318 7 %679 575 18 %Completed Restructuring    Transactions:All deals:Value$66 $109 (39)%$171 $246 (30)%Number78 116 (33)%176 244 (28)%____________________________________

Source: Dealogic as of July 3, 2025.

Another measure of global restructuring activity is the number of corporate defaults, which decreased during the first half of 2025 as compared to the first half of 2024. The number of defaulting issuers was 64 in the first half of 2025, according to Moody’s Investors Service, Inc., as compared to 80 in the first half of 2024.

Net revenue trends in Financial