The extraordinary events of the last few weeks are a major distraction for most of us.
Irrespective of the outcome and the eventual deal Britain strikes with the EU, there will be greater uncertainty for business for probably the next 5 years or more.
The unexpected nature of developments we have seen thus far show how difficult it is for individuals and companies to plan ahead with any real degree of certainty.
So what will and how should this affect the M&A sector?
History shows us that turbulent times economically, politically and socially produce a short term drop in investment and a period of re-appraisal, followed not so remarkably by a resumption in activity.
With interest rates low and set to remain so for the foreseeable future, investment capital will continue to seek a good return based on a careful rebalancing of risk and reward in equity markets.
Those companies that can demonstrate a history of resilient profitability and a vision that will deliver sustainable growth irrespective of market trends will always attract investment capital. And there is no shortage of investment capital.
The challenge for businesses seeking an exit will be to look even more carefully to define the value drivers in their operations, and the reduced risk that can be liberated from a more comprehensive and verifiable history of financial and strategic performance.
Those companies whose brand propositions are more resistant to price competition will continue to realise good deal values.
The ability for acquirers to identify new synergistic opportunities from deals, particularly on a pan-European basis, will be a key determinant of M&A activity in the coming years.
As change always tends to liberate opportunities, and as risk will continue to deliver rewards, greater strategic clarity will separate the acquisitive winners from the inert losers.
For those who conclude that ‘Brexit was about taking back control of not having a plan’ it’s business as usual.