Analysis

2025 M&A trends survey

A time to pivot for M&A markets

The 11th annual M&A trends report explores what’s shaping dealmaking in 2025. Encouraging insights point to macroeconomic tailwinds that could drive increased M&A deals. As familiar challenges persist, dealmakers are adapting with pivots, shifts, and innovation to stay competitive.

From uncertainty to cautious optimism

Uncertainty has always been part of the dealmaking mix. For the year ahead, our new survey indicates that pivots, shifts, and innovation are the tactics most likely to be embraced by dealmakers as they adapt to current trends. For 2025, we anticipate that macroeconomic tailwinds will likely prompt increased M&A activity, building on the measured rebound we forecasted, and then experienced, during 2024.

2025 M&A Trends Survey: A time to pivot

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Key findings: Observations and opportunities

In our 11th annual look at the M&A landscape, we have summarized the dealmaker sentiments, plans, and expectations that are likely to shape market trends for the coming year. The survey data evidences a new era of opportunity for value creation, centered on agility and flexibility, for corporate and private equity dealmakers.

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    Survey optimism running high

    This year’s survey represents the highest level of respondent optimism since before the pandemic.

    Survey optimism running high

    This year’s survey represents the highest level of respondent optimism since before the pandemic.
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    Accelerating rebound

    Momentum building after a measured 2024 M&A market rebound: In both volume and value, US dealmaking has been on the rise in 2024 after the very soft market of 2023. This trend is likely to accelerate in 2025, according to our survey results and other analyses.

    Accelerating rebound

    Momentum building after a measured 2024 M&A market rebound: In both volume and value, US dealmaking has been on the rise in 2024 after the very soft market of 2023. This trend is likely to accelerate in 2025, according to our survey results and other analyses.
    Read more...

    Pivoting as a new normal

    Pivoting as a new normal for M&A: Per our new survey findings, financing, technological, and strategic pivots are now more embedded in most organizations.

    Pivoting as a new normal

    Pivoting as a new normal for M&A: Per our new survey findings, financing, technological, and strategic pivots are now more embedded in most organizations.
    Read more...

    The new normal

    Embedding technology and responsive foreign targeting in dealmaking: Corporations and private equity firms have made real progress with solidifying their efforts around digital transformation and an adaptive, steady approach toward cross-border value creation.

    The new normal

    Embedding technology and responsive foreign targeting in dealmaking: Corporations and private equity firms have made real progress with solidifying their efforts around digital transformation and an adaptive, steady approach toward cross-border value creation.
    Read more...

    "Dealmakers have significantly adjusted their approaches with increased innovation, embrace of new technologies, and novel collaboration. This, in turn, has led to M&A taking on a distinctively 21st century character."

    Pivoting: A core M&A competency for 2025

    Today, dealmakers must navigate perpetual uncertainty and thus pivoting has emerged as an M&A competency for the 21st century. Risk management has evolved, and the technology based on high-volume data for deal intelligence has entered a new era with Generative AI and other new technologies. The more the quantitative evidence of change and innovation seems to multiply, the bolder and more successful dealmaking often becomes.

    This is all why our focus on M&A “pivots” is apt as 2025 dawns. When your organization is more oriented around legacy and resisting change, shocks in the market combine to be a brick wall. Not anymore. In both corporations and private equity firms, agility and flexibility are now the coin of realm, enabling dealmakers to better take advantage of unexpected challenges and opportunities.

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