Despite considerable market instability and geopolitical concerns, the worldwide mergers and acquisitions (M&A) sector is gearing up for yet another year of peak performance in 2026 , Reuters indicates, referencing a conversation with Anyu Iyengar, Global Head of Advisory and M&A at JPMorgan .
According to JPMorgan, 2025 represented the second-largest year for M&A transactions on record — roughly $5.1 trillion — despite market upheaval triggered by shifts in US trade regulations and a temporary halt to IPOs in the United States.
“We are living in an environment where the causes of shocks to the system are extremely diverse — technological advancements, artificial intelligence, supply chain challenges, geopolitics, energy,” Iyengar remarked, stressing that escalating risks are compelling business leaders to pursue scale via substantial transactions as a means to bolster resilience.
2025 witnessed an unprecedented 68 transactions valued at over $10 billion , twice the quantity in 2024. JPMorgan served as an advisor on several major deals, including the prospective disposal of Warner Bros Discovery for $82.7 billion and Kimberly-Clark's acquisition of Kenvue producer for $50.6 billion.
Iyengar also highlighted the extensive preliminary discussions about a potential takeover of Glencore by Rio Tinto , which could establish the planet's foremost metals conglomerate and suggests the expanding proportion of mega-deals in the global M&A environment.
Analysts observe that activity in the merger marketplace presently is being fueled not solely by optimism concerning the economy or an excess of capital, but by the pressing need for enterprises to fortify their standings in the face of political turbulence, technological progress, and unpredictability in the markets .
The principal focal points for deals in 2026 are commodities, technology, energy, along with the consumer products and healthcare industries, which continue to evaluate possible mergers to enhance competitive advantage.
How the M&A sector in Ukraine is evolving in 2025, peruse the InVenture study.