Data from LSEG Data & Analytics shows global mergers and acquisitions activity reached a five-year high in the first quarter of 2026, with deal volumes up 27% year-on-year.
The momentum follows an already exceptional 2025, in which global M&A deal value hit $4.6tn, a 49% increase from 2024 and the highest figure recorded since 2021. That year also saw 68 mega deals, transactions valued above $10bn, the most since records began in 1980.
By April, the picture had grown even stronger. LSEG’s monthly snapshot showed year-on-year growth climbing to 38%, with global announced M&A still at a five-year high.
LSEG Deals Intelligence director Matt Toole said, “It isn’t traditional strategic M&A. It’s more capital investment, with corporates, venture capital, and private equity funding these companies. It’s driving a major level of dollar volume and will be the story of 2026.”
Americas lead, but Europe closes the gap
The Americas continued to anchor global deal activity. In January and February alone, total deal value across the region reached $440bn, up 78% year-on-year. High-profile transactions, including Warner Bros’ reported $110bn deal with Paramount and SpaceX’s accelerated IPO timeline, underscored the scale of US dealmaking.
Yet Europe is increasingly sharing the spotlight. Announced transaction value in EMEA rose 82% compared to the same period in 2025, reaching an eight-year high.
Reuters EMEA M&A editor Anousha Sakoui said, “Europe has had one of its best starts ever, driven mostly by the UK where we’ve seen lots of inbound deals. A big factor is the FTSE 100 trading at a discount to European and US stocks, creating opportunities for buyers.” Examples include these Reuters News exclusives:
Regulatory tailwinds may further accelerate European activity. On 30 April 2026, the European Commission published a 98-page draft of revised merger guidelines for public consultation, with responses open until 26 June. If adopted, the changes are expected to ease cross-border deal approvals across the bloc, LSEG said.
APAC dips while mid-market stirs
Asia-Pacific told a more mixed story. Despite a strong start, buoyed in part by an $8.8bn takeover bid for Australia’s BlueScope Steel, regional activity declined 31% by the close of Q1.
Meanwhile, mid-market dealmaking is gaining momentum. According to LSEG data, 58% of executives at mid-market companies and private equity firms expect deal volumes to rise through 2026.
For more insights, read the full report here.
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