Mergers and acquisitions experienced resurgence, particularly in the latter half of the year. Total deal volume increased by 27% to $2.2 trillion in the first half of 2025, with significant growth in large transactions. Seven out of nine sectors reported double-digit volume growth, notably in financial institutions, media, and diversified industries. Private equity firms contributed to this momentum with $168 billion in take-private deals. The trend suggests a concentrated yet aggressive deployment of capital, favoring technology and diversified industries.
M&A activity has been rebounding even amid fears that Trump's trade wars could slow the economy. The last week of May and June and early July have all been pretty active with a good cadence of deal announcements. And more importantly, our pipeline and conversations continue to be active as well.
Total deal volume soared 27% to $2.2 trillion in the first half of 2025, including a 57% increase in deals over $10 billion. Deals over $1 billion rose 72% - a 20-year high.
Seven out of nine sectors saw double-digit volume growth, including Financial institutions (+56%), Media & communications (+51%), and Diversified Industries (+41%). M&A volumes seemed to favor technology (23%) and diversified industries (22%).
Private equity firms have ramped up dealmaking, leading to $168 billion in take-private deals in the first half of 2025, the highest since 2022, with four mega-deals accounting for more than 50% of that volume.
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