Global M&A Activity Surges to $4.5 Trillion in 2025, Fueled by Cheap Financing and Regulatory Shifts
Worldwide mergers and acquisitions soared nearly 50% in 2025, reaching approximately $4.5 trillion—the second-highest level in over four decades. A record 68 megadeals worth $10 billion or more were struck across media, rail, and industrial sectors, eclipsing previous benchmarks.
"I haven't seen large-scale M&A like this in a decade," remarked Tony Kim, co-president of Centerview Partners. "These are industry-transforming deals requiring perfect alignment of market conditions—and we're seeing that convergence now."
The year's most notable transactions include Netflix and Paramount's competing bids for Warner Bros Discovery, while Union Pacific and Norfolk Southern consolidate into a $250 billion rail giant. Investment banks capitalized on the frenzy, earning $135 billion in fees—just shy of their all-time record.
