Following a landmark year in 2025, which saw an impressive 68 transactions each valued over $10 billion, Wall Street is gearing up for continued robust activity in high-stakes deals. This remarkable surge in merger and acquisition activity propelled global M&A volumes to their highest levels since the pandemic, signaling a strong resurgence of confidence among corporate leadership.
The landscape of deal-making in 2025 was characterized by an average transaction size approaching $227 million, a figure unparalleled since 1980. Industry experts, such as Ivan Farman, global co-head of M&A at Bank of America, highlighted that the prevalence of large-scale deals serves as a clear indicator of strong conviction within executive suites and boardrooms. Notable transactions included Netflix's $72 billion acquisition of Warner Bros. Discovery's studios and HBO Max streaming service, and the $72 billion merger between Union Pacific and Norfolk Southern. Furthermore, Electronic Arts' $55 billion move to go private underscored the growing influence of private capital in shaping major corporate restructuring, a trend expected to persist.
Despite various economic uncertainties, including concerns over tariff regimes, the momentum of deal-making remained undiminished, even extending into traditionally quieter periods like Thanksgiving. This sustained dynamism is anticipated to carry forward into 2026 across a diverse range of industries. The overwhelming success of high-value transactions in 2025 marks a significant recovery in the M&A sector, indicating a positive trajectory for the market in the coming year, fueled by renewed corporate confidence and the increasing strategic role of private investment.
The sustained period of significant mergers and acquisitions not only reflects the current strength of the financial markets but also underscores a collective belief in future growth and strategic expansion. It suggests that businesses are actively pursuing opportunities for innovation and consolidation, navigating potential global challenges with a forward-looking and determined approach, thereby fostering a dynamic and progressive economic environment.