Global M&A value falls 36.9% to USD 781 billion in Q3, US dealmaking drops 44.6%: S&P Global
New Delhi, November 12
Global mergers and acquisitions activity witnessed a sharp slowdown in the third quarter of 2026, with aggregate deal value declining 36.9 per cent sequentially to USD 781.46 billion, as reduced megadeal activity weighed on the market, according to an S&P Global Market Intelligence report.
The number of announced transactions globally also fell 12.6 per cent from the previous quarter to 9,732, dropping below the 10,000 mark for the first time since at least 2024. The aggregate transaction value stood at USD 1.239 trillion in the second quarter.
The report noted that "The slowdown was broad-based, with M&A activity retreating from its recent peak and a quieter megadeal environment weighing particularly on the US market."
The United States recorded a sharper contraction, with aggregate M&A transaction value declining 44.6 per cent sequentially to USD 358.45 billion. Deal volume in the country also fell 10 per cent to 3,662 transactions during the quarter.
The decline was largely driven by a significant reduction in large transactions. While six deals valued at more than USD 20 billion were announced in the second quarter, the largest US transaction in the third quarter was Aon North America Inc.'s proposed USD 17 billion acquisition of USI Advantage Corp.
The 10 largest US transactions during the quarter had a combined value of USD 90.74 billion, compared with more than USD 350 billion in the previous quarter.
Despite the broader slowdown, certain sectors continued to demonstrate resilience. US industrials led all sectors in both transaction volume and value, recording 689 deals worth USD 67.27 billion. The sector's deal value increased by more than 60 per cent from the previous quarter, despite a decline in transaction count.
Regionally, Europe recorded 2,819 transactions worth USD 223.58 billion, with deal value declining 31.2 per cent sequentially. In Asia-Pacific, transaction value fell 9.2 per cent to USD 131.08 billion, while deal volume declined 7.8 per cent to 2,364 transactions.
Looking ahead, the report indicated the possibility of a recovery in dealmaking as market conditions improve.
"Activity could regain momentum as economic visibility improves, financing conditions stabilize and confidence in the earnings outlook strengthens," the report said, adding that healthy deal pipelines and a favourable regulatory backdrop provided conditions for a potential rebound.
— ANI
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