Global M&A totaled $993 billion in 3Q 2026, down 41% from the previous quarter. There were only 10 large transactions, while year-to-date M&A totaled $3.9 trillion, maintaining a high level.
The total value of global corporate mergers and acquisitions (M&A) fell 41% from the previous quarter to $993 billion in 3Q 2026. Quarterly transaction value fell below $1 trillion for the first time since 2Q 2024.
There were only 10 transactions worth more than $10 billion, including Banca Monte dei Paschi di Siena's $32 billion offer for Banco BPM and South Africa's Gold Fields' $25.7 billion offer for Northern Star Resources.
Meanwhile, global M&A since the start of the year has maintained its highest level since 2001, with total transaction value up 28% year on year to $3.9 trillion, despite an 8% decline in the number of transactions. Investment in the technology sector has been one factor supporting the overall market, while major AI-related developments are also progressing.
Transaction value in the Asia-Pacific region rose 8% from the previous quarter and 36% year on year to $242 billion. Private equity-related M&A since the start of the year is at its highest level since 1980, while cross-border transactions have also increased significantly from the previous year.