New Report

2026 Global M&A Outlook

New Report

2026 Global M&A Outlook

Think Big, Build Bigger.

Seizing the innovation supercycle through transformative M&A.

The 2026 global M&A landscape will be defined by strategic repositioning and building for scale. Tremendous public and private capital, the powerful macrocurrent of AI, and a constructive regulatory and economic environment are all contributing to what should be another strong M&A cycle. 

Extraordinary ambition is accelerating the pace of these moves. Companies are reimagining their portfolios as technology reshapes industries and capital awaits deployment. Those who think strategically and act boldly will set the course for what comes next. 

To better navigate the path ahead, read the Goldman Sachs 2026 Global M&A Outlook.

Trends Driving M&A Activity in 2026
Transformation Fueling Strategic Growth: AI and BeyondAI is a key driver of the innovation supercycle disrupting entire sectors of the economy and broadening the aperture for strategic dealmaking. As policy uncertainty moderates and valuations normalize, "dream deals" are increasingly defining the global M&A landscape as industry leaders look to acquire new capabilities.
Private Markets at the Epicenter of M&A DealmakingPrivate markets have become central to global M&A. Sponsors are deploying capital at scale while simultaneously managing the timing and execution of exits. Larger, more complex transactions are becoming increasingly prevalent as financing options and innovative deal structures expand to enable transformative transactions.
Complex Deals Demanding Flexible Capital SolutionsThe size and structural complexity of transactions are growing alongside shifting financial conditions, regulatory constraints, and business priorities. Now, traditional siloed financing products are being replaced by new capital solutions offering more bespoke, flexible structures.
Activists Growing Bolder and More Diverse The current environment has created a favorable landscape for activism, with levels steadily inclining and public campaign volumes poised to set a new five-year high by year end*. This surge is largely driven by M&A-related demands, as activists increasingly push for corporate transformation and strategic clarity.

*Source: FactSet, public company filings.

Global M&A Volumes Hover at All-Time Highs
Map of Global M&A Volumes
Map of Global M&A Volumes
“
The fundamental drivers of M&A—the availability of capital in the public and private markets, the resurgence of the IPO market, the desire to continue to position strategically, the ability to get things done—these forces are all in play in 2026.”
David Dubner
Global COO of M&A in Investment Banking and Global Head of M&A Structuring
2026 M&A Outlook

Think Big, Build Bigger.