After dealmaking slowed momentarily in early 2025, global M&A activity quickly assumed a grand scale—delivering big gains for the year. All this week, we explore M&A trends, from megadeals to cross-regional trading and more.
Global M&A activity soared in late 2025, with total deal value surging roughly 43 percent over the prior year, to about $4.7 trillion, despite the number of deals remaining flat. The increase in deal value was driven by a higher share of transactions exceeding $10 billion, signaling a shift toward larger, more strategic deals, McKinsey Senior Partners Jake Henry and Mieke Van Oostende note. Regionally, the Americas led the recovery with concentrated high-value dealmaking, Asia–Pacific saw a moderate rebound supported by cross-regional deals, and Europe, the Middle East, and Africa experienced more mixed momentum amid structural changes. Click through the interactive to see more.
To read the report, see “2026 M&A trends: Navigating a rapidly rebounding market,” February 13, 2026.