2026 M&A Report

Note From the Editor

This year’s M&A Report offers a detailed review of the global M&A market, including an analysis of market activity across key geographies and industry sectors. We examine how easing interest rates, shifting macroeconomic conditions, and regulatory developments helped propel a worldwide recovery in 2025, led by growth in larger transactions valued at a billion dollars or more, and we analyze the factors shaping the market outlook for 2026.

We discuss a recent change in the tender offer rules and its potential impact on market practice generally, and public M&A in particular. And we take a closer look at common takeover defenses available to public companies and how market and investor pressures continue to influence governance practices.