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ARTICLE · 10 FEBRUARY 2026

Public M&A Trends In Germany 2025

A&O Shearman
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We are pleased to present our latest analysis on the public M&A market in Germany for 2025. This comprehensive report, prepared by A&O Shearman, provides an in-depth overview of the market developments and key trends that have shaped the landscape of public mergers and acquisitions in Germany over the past year, as well as an outlook for the German takeover market in 2026.

GermanyCorporate/Commercial Law
A&O Shearman
A&O Shearman
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We are pleased to present our latest analysis on the public M&A market in Germany for 2025. This comprehensive report, prepared by A&OShearman, provides an in-depth overview of the market developments and key trends that have shaped the landscape of public mergers and acquisitions in Germany over the past year, as well as an outlook for the German takeover market in 2026.

Key highlights include:

  • Decline in Public M&A Activity: With 20 offers (volume: EUR17bn), the 2025 public M&A market declined by approx. 37.5% compared to the previous year.
  • Focus on delisting, limited IPO activity: The trend towards going private persisted in 2025, coinciding with limited IPO activity.

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