Deal-making in 2025 is expected to continue into next year as CEOs seek scale and private-equity firms divest aging assets, per Mizuho Americas head Michal Katz. Megadeals over $10 billion doubled to $1.3 trillion this year, including an $85 billion rail transaction and a $55 billion Electronic Arts buyout. AI is driving M&A trends towards multi-year investments.

Record levels of shareholder activism in 2025 are pushing companies towards event-driven exits. Tech and AI led S&P 500 returns, but healthcare is gaining traction with deals like Pfizer’s acquisition of Metsera. Private credit market strains have led to tighter standards, prompting lenders and investors to scrutinize documentation and transparency.

Overall, the M&A landscape is evolving with a focus on future-proofing companies and exploring multi-year investments. Shareholder activism and diversification beyond tech and AI are shaping deal-making trends. Private credit market challenges are leading to stricter standards and increased scrutiny in documentation and transparency.

Read more at Yahoo Finance: Mizuho’s Katz sees ‘fertile’ conditions driving robust M&A market into 2026