Survey finds 80% of executives plan to sustain or increase dealmaking after 2025's near-record rebound.
27 Jan 2026 | 206 Views | By Shristi Ohri
Global mergers and acquisitions activity is positioned to continue its strong performance in 2026 following a 40% surge to $4.9 trillion in 2025, according to Bain & Company's annual Global M&A Report 2026 released Monday.
The consulting firm's survey of 300 M&A executives revealed that 80% anticipate maintaining or ...
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Global mergers and acquisitions activity is positioned to continue its strong performance in 2026 following a 40% surge to $4.9 trillion in 2025, according to Bain & Company's annual Global M&A Report 2026 released Monday.
The consulting firm's survey of 300 M&A executives revealed that 80% anticipate maintaining or increasing deal activity this year. The favorable environment is supported by improving macroeconomic conditions and a growing inventory of private equity and venture capital assets prepared for exit.
"The ingredients are in place for another robust year in M&A following last year's near-record rebound," said Suzanne Kumar, executive vice president of Bain & Company's global M&A and Divestitures practice. Kumar noted that companies face urgent pressure to reinvent themselves in response to technology disruption, a post-globalization economy, and shifting profit pools.
Three primary forces are expected to drive M&A strategy this year. Technology disruption, particularly advances in artificial intelligence, robotics, and quantum computing, will significantly influence dealmaking. Nearly half of all technology sector deals already involve an AI component, a trend expected to accelerate as companies pursue AI talent and capabilities.
Geopolitical considerations and post-globalization dynamics will continue influencing M&A decisions, particularly following tariff shocks in 2025 that highlighted supply chain vulnerabilities. Companies are expected to use M&A and divestitures to realign their global footprints strategically.
Portfolio strategy adjustments are also driving activity, with more than half of surveyed companies preparing assets for sale within the coming years. Executives cited desires to sharpen focus, free up capital, and capitalize on current market valuations.
The report found that AI adoption in M&A more than doubled in 2025, with 45% of executives using AI tools during dealmaking. Approximately one-third of dealmakers are systematically deploying AI or redesigning processes to accommodate it, while over half expect AI to significantly impact future deal execution.
Leading companies are applying AI across five areas: dynamic deal pipelines, enhanced market intelligence, accelerated synergy identification, reduced integration preparation, and deeper stakeholder analysis.
Despite robust activity in 2025, the proportion of capital allocated to M&A reached a 30-year low, according to the report. Companies have increased capital expenditure and research and development investments, creating competition for available resources. Bain emphasized that this environment requires disciplined approaches to value creation.
The banking sector saw M&A surge to $212 billion in 2025, driven by favorable regulatory conditions and modernization needs. Deals combining scale and scope elements achieved approximately 30% better valuation gains than single-focus transactions.
Oil and gas companies consolidated at record levels in 2025, seeking to capture economies of scale and integrate value chains. The top 20 acquirers in the sector accounted for 53% of deal value over the past decade.
Software companies acquired record numbers of AI assets, with AI-related deals rising from one in four transactions in 2024 to nearly half in 2025. Revenue synergies have become increasingly important for software sector deals.
Bain outlined five strategies for companies pursuing M&A in 2026: grounding deals in strategic context, ensuring megadeal value creation, taking comprehensive due diligence approaches, building end-to-end M&A capabilities, and refreshing strategic capital allocation frameworks.
The report covers 13 industries and 10 geographic markets, providing detailed analysis of regional and sector-specific trends shaping the global M&A landscape.