The State of Global M&A:
LSEG Deals Intelligence Insights
Report | The State of Global M&A 2026
Time to concentrate
Despite record-breaking M&A activity in the first half of 2026, the market's recovery is proving far more concentrated than headline figures suggest. Global deal value surged to an all-time first-half high of $2.85 trillion, yet deal volumes fell to a six-year low as capital increasingly flowed towards a smaller group of companies, sectors and transactions.
This latest report from LSEG Deals Intelligence explores how concentration is reshaping the global M&A landscape. From the rise of mega-deals and AI-driven investment strategies to widening regional disparities and changing advisory dynamics, the report examines the forces driving today's most significant transactions and what they could mean for the months ahead.
From this report, readers will gain insights into:
- Why global M&A reached record values while overall deal participation continued to decline.
- How AI is influencing capital allocation, investment structures and strategic M&A activity across industries.
- The growing concentration of deal activity within the US and Europe, and its implications for global markets.
- The trends expected to shape M&A activity in H2 2026, including mega-deals, strategic investments and evolving advisory mandates.
Download the report to explore the key trends, transactions and market dynamics shaping the next phase of global M&A activity.
Authors
Matthew Toole
Director Deals Intelligence
Elaine Tan
Senior Manager, Deals Intelligence
Lucille Jones
Senior Manager, Deals Intelligence
Vianca Sanchez
Analyst, Deals Intelligence
