What drove global M&A to a record $2.8 trillion in the first half of 2026, and how did deal volume change?

A surge in $10-billion-plus 'mega-deals'—47 such transactions totaling over $1.3 trillion and accounting for nearly 50% of global M&A volume—drove the total value of announced deals to $2.8 trillion in the first half of 2026, up 48% year-on-year and the highest year-to-date total since LSEG records began in 1980; however, the number of deals announced fell 9% to 24,000, marking a six-year low.

Why are companies prioritizing mega-deals over smaller transactions, according to banking executives cited in the article?

According to Ivan Farman, co-head of Global M&A at Bank of America, companies see mega-deals as more efficient because 'a $1 billion to $3 billion deal takes just as much time as a larger one,' so when a major opportunity arises, they act decisively; additionally, bankers note investors are placing a premium on scale and focus, with bigger companies trading at better multiples due to stronger competitive advantages, prompting CEOs and management teams to rally boards around long-held 'dream deals.'

Mega-deals fuel record M&A as boards dream big on takeovers

Jun 30, 2026

Global M&A reached a record $2.8 trillion in H1 2026, led by technology but featuring significant mega-deals in energy and food sectors, including NextEra Energy's merger and Unilever Foods' acquisition by McCormick.

reuters

2026-06-30

Mega-deals fuel record M&A as boards dream big on takeovers

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