Here's your summary from Wall Street M&A Risks Slowing on 'Valuation Disconnects' (https://www.youtube.com/watch?v=IWK9k-7USEM) on the Bloomberg Television channel:

### TLDR:

M&A market is facing challenges due to valuation disconnects, uncertainty around interest rates, election, and regulatory environment.

### Key Points:

1. M&A activity is expected to remain limited due to higher interest rates, election uncertainty, and valuation discrepancies.

2. Uncertainty surrounding the election outcome is causing clients to hold off on deals until there is more clarity.

3. Pharma deals above $5 billion have been scarce due to a lack of available assets and overvaluation in the market.

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