Tales of Corporate Lovemaking | From the Gabelli Merger Arbitrage Desk
Valentine’s Day is usually about romance, but in markets, it’s also a good excuse to talk about something equally emotional: deal-making. In 2025, corporate relationships ranged from straightforward strategic pairings to long, regulator-heavy engagements.
Utilities – U.S.
US Utilities – State of Power Demand: Full Steam Ahead In 2025, the S&P 500 Utilities Index returned 16.0%, modestly trailing the S&P 500’s 17.9% gain and the NASDAQ’s 20.4% return. Most companies in the regulated utility universe generated positive total returns, with a median return of 15%.