2025 M&A Outlook Building Momentum on a Global Stage

This document is a report on the 2025 M&A outlook, detailing the expected trends and dynamics influencing mergers and acquisitions in the coming year. It outlines how capital markets are normalizing, with a focus on the impact of monetary policy and regulation on M&A activities. The report highlights a significant rise in global M&A volumes, with corporate buyers transitioning from net-sellers to net-buyers, driven by strategic growth and the addition of new capabilities. It discusses the role of simplification in corporate strategies, emphasizing the importance of separating divergent businesses to enhance operational agility. The document also addresses the increasing activity of activist funds targeting larger corporations and the implications for M&A. Furthermore, it presents insights into the evolving landscape of sponsor activity, noting the challenges and opportunities for liquidity and exits in the market. Overall, the report provides a comprehensive view of the factors shaping the M&A landscape in 2025.