Most corporate executives predict global M&A activity in 2026 will exceed that of 2025: the first-half total has already reached $2.85 trillion.

Original content. First published on WeChat Official Account: The Blue Stars. This article is original content by "The Blue Stars". "The Blue Stars" is a brand under "Guava Fragrance". In the first half of 2026, global M&A transaction value reached $2.85 trillion—up a robust 50% year-on-year versus the same period in 2025—marking the strongest start to a year since records began in 1980. NYC According to a report jointly released by law firm Norton Rose Fulbright and M&A intelligence firm Mergermarket, despite ongoing regulatory uncertainty clouding the dealmaking landscape, over half of global business leaders expect M&A activity to increase in 2026. The report, titled "Global M&A Trends and Risks 2026", shows that 52% of executives anticipate transaction volume this year will surpass 2025 levels—with 20% expecting a significant increase. By comparison, in the 2025 survey, only 38% of respondents expected M&A activity to rise. Global M&A trends and risks 2026 Respondents expect technology-related deals to lead cross-border M&A growth in 2026, with AI serving as the key driver behind these opportunities. Nearly one-quarter (24%) of respondents stated they are actively seeking to acquire companies that heavily deploy AI technologies—a figure rising to 38% among private equity respondents. Moreover, private equity is viewed as a major catalyst for heightened deal activity in 2026. Forty-eight percent of respondents ranked it alongside industry consolidation (45%) and divestiture of non-core assets (37%) as one of the three primary drivers of new transaction activity. A vast majority of respondents (86%) also noted that private credit will remain a critical source of M&A financing over the next two years; meanwhile, 19% expect such financing to become more readily available. Global M&A trends and risks 2026 Key findings At the same time, 48% of respondents believe U.S. deal activity will see significant growth in 2026, while 43% anticipate similar momentum in Europe. For insights into the strong M&A performance of U.S. BigLaw firms during the first half of 2026, see the article: "After posting a record-breaking annual revenue of $10.6 billion, Kirkland & Ellis tops the global M&A league table." In actual figures, Q2 2026 transaction value hit $1.6 trillion—up 31% from Q1 2026—and marked the fourth consecutive quarter exceeding $1 trillion. It also set a new record as the largest quarterly M&A volume globally. However, the total number of deals announced in the first half of 2026 exceeded 24,500—down 9% year-on-year and the lowest level in six years. (Note: While deal count declined, average deal size surged significantly.)

Hanting Consulting: Overview of Investment, Financing, and M&A Information (2026–64)

Hanting Consulting has long specialized in investment and financing advisory services. To help industry professionals efficiently access transaction information and opportunities, Hanting Consulting compiles and curates demand-driven M&A and investment data, launching this dedicated series. The series primarily covers three core categories: acquisition demands, target company sale demands, and investment/financing demands—all directly sourced from the parties involved, ensuring authenticity and reliability. This edition’s investment and M&A information is as follows: M&A Demand A listed company seeks to acquire enterprises in the semiconductor or optical communications sectors. The company focuses on the semiconductor and optical communications supply chain, prioritizing high-quality targets with high technological barriers, stable customer bases, sustainable profitability, and independent operational capabilities. Key acquisition areas include advanced packaging, MEMS, substrate epitaxy, IC substrates, photoresists, polishing materials, semiconductor core equipment, as well as optical chips, lasers, photodetectors, modulators, high-speed optical modules, and related equipment. Target enterprises should generally generate annual revenue of no less than RMB 200 million, with a minimum threshold of RMB 100 million. They must either already be profitable or demonstrate clear, credible paths to profitability.

M&A Activity: Tuesday, November 10, 2026

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Five new M&A transactions were announced for the week ending Nov. 9, with year-to-date values rising despite lower volumes driven by Mitsui Chemicals' $11.6 billion acquisition of JSR Corp.

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