I'm becoming more bullish about M&A activity in 2023. Controversial, I know. This commentary from WTW is on the nail (https://www.wtwco.com/en-GB/News/2022/12/global-m-and-a-outlook-2023-smaller-deals-and-slower-pace). Smaller deals, more opportunity for distressed M&A, technology continuing its upward trajectory aligned with relatively low valuations (at least by recent standards), near-shoring and focus on ESG. All these trends point to a good level of continuing international M&A activity if you are focussed, nimble and eager. Bring it on.