Mergers & Acquisitions

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  • 1.  2026 M&A Outlook

    Posted 2026-01-05 08:50

    A lot of research is pointing to 2026 as likely be one of the strongest M&A years since the post‑pandemic boom, with rising deal volume, higher valuations, and a surge in strategic and AI‑driven transactions. 

    What are your thoughts? Do you anticipate larger deal transactions and higher volume? Are there particular industries that you believe we should be watching? 



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    Evan Piekara
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  • 2.  RE: 2026 M&A Outlook

    Posted 2026-01-08 07:36

    I agree that this will be an active year for M&A.  The pharma market has been quiet lately after more than a decade of activity.  Banking is always active.  I suspect that there will be a lot of activity in investment real estate.  I also wonder if the TV/Entertainment market could be active.  There is a lot of disruption in the news presenting market.

    All of this is underlined by politics at the moment and not just financial considerations.



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    Frank Gorman, Former ACMP Board Member, Transformation Consultant
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    Original Message


  • 3.  RE: 2026 M&A Outlook

    Posted 2026-01-09 08:35

    Thanks @Frank Gorman - always appreciate your insights. It seems like there are a number in the works already and despite the volatility there is room for growth. I'll be curious to watch how the regulatory climate, geopolitics, and volatility impact this outlook. A few trends and forecasts that I came across that seem interesting in this space:

    1. Forecasted Growth in Volume and Scale

    • EY forecasts U.S. deal volumes over $100M to grow 3% in 2026, following a 9% increase in 2025.
    • Corporate M&A deals are projected to rise 3%, and private equity deals 5% in 2026.
    • WTW reports that 2025 was the strongest year since the post‑pandemic boom, creating a "robust foundation for 2026".

    2. 2025 Provided a Glidepath for 2026

    • Global M&A value rose 40% in 2025, driven by a sharp increase in megadeals.
    • 45 megadeals over $10B were completed in 2025, signaling a return to large, transformative transactions.

    3. Private Equity Is Re‑Accelerating

    • Sponsor‑led take‑private activity rose 60% in 2025, driven partly by sovereign wealth fund co‑investment.
    • PE deal volume is expected to grow again in 2026, supported by improved financing.

    4. AI, Technology, and Portfolio Reshaping Are Major Drivers

    • Baker McKenzie identifies AI, technology, and structural reshaping as major forces shaping 2026 dealmaking.
    • Companies are using M&A to reposition portfolios, divest non‑core assets, and accelerate digital transformation.



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    Evan Piekara
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    Original Message


  • 4.  RE: 2026 M&A Outlook

    Posted 2026-01-16 15:16

    Hi Evan,

    I completely agree that 2026 is shaping up to be a landmark year for M&A activity. After a period of relative caution, the convergence of stabilizing interest rates and massive cash reserves has created a perfect environment for aggressive deal-making. I definitely anticipate a significant surge in both deal volume and the return of "megadeals" as companies seek to solidify their market positions. The push for AI integration is no longer just a trend; it is now a fundamental driver of strategic acquisitions across every sector.

    ​In terms of specific industries, I believe we should keep a very close eye on the healthcare and renewable energy sectors. These areas are ripe for consolidation as firms look to scale innovative technologies and meet evolving regulatory demands. We are likely to see higher valuations as competition for high-quality, tech-forward targets intensifies throughout the year. It feels like the market has reached a tipping point where the "wait and see" approach is finally being replaced by bold execution. This shift will likely redefine the competitive landscape for the remainder of the decade.



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    Tanya D. Cane
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    Original Message


  • 5.  RE: 2026 M&A Outlook

    Posted 21 days ago

    Great thread, Evan, Frank, and Tanya! I agree that the setup for 2026 looks constructive, but with some important nuances that will shape where and how deals get done.

    A few areas I'm watching closely:

    • AI and digital infrastructure: semiconductors, data centers, power generation/backup, fiber, and cybersecurity. The AI boom is pulling capital into "picks-and-shovels" plays as much as software. Expect strategic tuck-ins for model/IP and PE platform roll-ups for tooling and security.
    • Healthcare: biopharma (pipeline replenishment, cell/gene therapy), medtech, and healthcare IT/revenue cycle. Valuations will be bifurcated-assets with regulatory clarity and differentiated data will command premiums.
    • Energy transition: storage, grid modernization, interconnection services, and select nuclear/SMR and CCUS. Power constraints are becoming a real gating factor for AI and industrial growth, which creates M&A momentum across the value chain.
    • Media: streaming rationalization, gaming, and ad-tech-active, but antitrust scrutiny will push creative deal structures (minority stakes, JVs, asset swaps).
    • Financial services: fintech consolidation (payments, BaaS) and regional bank combinations-still active, but approvals remain the swing factor.
    • Real assets: data centers, logistics, and life sciences real estate on the positive side; office remains more of a restructuring story than classic M&A.

    Structural themes to expect:

    • Carve-outs and portfolio reshaping accelerating as boards re-center around core growth.
    • Private credit continuing to underwrite larger transactions; earn-outs and contingent value structures to bridge valuation gaps.
    • Heightened regulatory friction (antitrust, FDI screening, AI/data governance) elongating timelines-deal certainty will be a differentiator.

    From a change/integration lens, a few "must-haves" to capture value:

    • Talent and culture: targeted retention plans for technical and commercial leaders; clear operating model within the first 100 days.
    • Data and AI governance: diligence on data provenance/licensing, model risk, and security; Day-1 controls to avoid compliance drift.
    • Separation excellence for carve-outs: TSA minimization, clean IP disentanglement, and customer continuity plans.
    • Synergy tracking: credible baselines, interim milestones, and outcome-based KPIs to prevent erosion as complexity scales.

    Curious to hear from the group:

    • Where are you seeing regulators most impactful-sectorally or by deal type-and how are clients de-risking approvals?
    • For AI-heavy transactions, how are teams approaching diligence on data rights and model governance without slowing the deal clock?
    • Which integration levers (e.g., operating model clarity vs. IT harmonization vs. commercial cross-sell) are providing the fastest value realization in your recent deals?

    -Brian Mason



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    Brian Mason
    MilwaukeeWI
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    Original Message


  • 6.  RE: 2026 M&A Outlook

    Posted 20 days ago

    Thanks everyone for your perspective on this. Great addition @Brian Mason and a few thoughts on your questions:
    For de-risking approvals, strategies that I have seen include:

    • Adjusting deal strategy for longer, less predictable timelines
      • , including differentiated pre‑close planning for early vs. late review periods.
      • Strengthening regulatory due diligence, especially in financial services, to ensure compliance with sector‑specific supervisory requirements.
      • Preparing remedy strategies early, including potential divestitures or separations to address antitrust concerns.
      • Engaging proactively with regulators to clarify competitive impacts and demonstrate consumer benefit

    For AI-heavy transactions:

    • Training data provenance and rights
      • Assessing the maturity of both enterprises' data governance and AI maturity and what level of training and integration is needed.
      • Model transparency and governance-assessing how models are trained, stored, deployed, and monitored, especially where governance lacks clarity.
      • Sector‑specific data sensitivity-flagging which data is most sensitive (if not already done so) and determining strategy for appropriate controls, firewalls, and access

    Integration Levers: 

    • Culture remains one of the most challenging aspects of integration and can make or break synergy capture. Doing a culture deep-dive upfront both as part of the analysis and with the integration team will raise points of similarity that can emphasized in communications, points of opportunity that can be assessed, and potential tensions that will require risk mitigation. Prioritizing aspects of culture and forming teams to address as part of integration will help speed up the speed to value. 
    • Taking a deep look at the sales processes of the respective companies and better understanding those integration opportunities, ways of working changes, and training sales on the products while also integrating them in building new processes
    • Ensuring there is a clear operating model and org design so that IT systems can be adapted, built, or reinforce these changes. 


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    Evan Piekara
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    Original Message