– Companies are gearing up for bigger mergers and acquisitions in the second half of the year, driven by executives growing more comfortable navigating volatile markets and uncertain global politics, according to Anu Aiyengar, JPMorgan Chase’s Global Head of Advisory, Mergers & Acquisitions.
– In the first half of 2025, global M&A volumes surged 27% to $2.2 trillion, with mega deals valued at $10 billion or more seeing a remarkable 57% increase. This growth follows a temporary halt caused by U.S. President Trump’s trade war, and now companies are shifting from waiting for certainty to embracing uncertainty, says Aiyengar. “Boards are encouraging management teams to think big, think bold, and act,” she added.
– Key Trends Driving M&A in the Second Half:
+ Mega Deals: With markets volatile and political tensions high, C-suites are pursuing transformative deals that provide scale to secure supply chains and bolster technology.
+ Cross-Border M&A: Despite regulatory challenges, cross-border activity remains strong, with multinational companies seeking scale to navigate protectionism and rapidly evolving technology needs.
+ AI Investments: The artificial intelligence market is expected to grow from $60 billion in 2022 to $1.8 trillion by 2030, sparking further dealmaking. Tech companies are projected to spend $1 trillion on data centers in the next five years.
– Sectors to Watch: Tech, industrials, and energy are the hottest sectors for M&A in the second half of the year, with Asia’s deal activity nearly doubling in the first half of 2025.
– U.S. Market Resilience: The U.S. remains the most attractive market for M&A due to its size, consumer resilience, and high agility in responding to volatility.
As large, multinational corporations face complex challenges in a fast-changing world, M&A deals—especially those with scale—are seen as crucial for adapting to the future.
