Despite a tumultuous first half of the year, as Trump’s tariffs shook global markets, a wave of mega-deals in H2 meant 2025 ultimately proved to be one of the best-ever years for M&A.
Total global M&A deal values rose 41% to hit $4.81trn, according to Mergermarket, and while global deal volumes dipped below 40,000, a record 70 $10bn-plus deals helped make the year the second-strongest on record for value, behind only 2021.








