Global M&A Trends and Risks Study Unveiled by Mergermarket's Platform
The third edition of the Global M&A Trends and Risks report, a collaborative effort between our website and Mergermarket, sheds light on the key trends and risks shaping global M&A dealmaking in 2025. Raj Karia, Global Head of Corporate, M&A and Securities at our website, stated that the report captures a shift in how clients approach M&A, with a move towards more deliberate and strategic planning.
The report examines trends shaping dealmaking around the world and includes a survey of 200 top-level executives. Among the findings, respondents expect that domestic strategic buyers will be the most active acquirers in 2025, particularly in emerging markets like Latin America, Africa, and South and Southeast Asia.
44% of survey participants expect domestic private equity buyers to be among the most active types of acquirers in deal markets in 2025, with a particular emphasis on South and Southeast Asia. Louise Nelson, Head of PR for Europe, Middle East, and Asia at our website, highlighted these findings.
However, the report also reveals a more cautious M&A landscape, with 53 percent of respondents expecting their own organization's appetite for M&A to increase in 2025 compared to last year. Yet, market turmoil caused by "reciprocal tariff" announcements impacted sentiment, causing more than two-thirds of respondents to say their appetite for M&A decreased.
The global corporate, M&A, and securities team at our website, consisting of over 450 M&A partners and 700 other deal lawyers worldwide, provides legal advice on various matters, including public transactions, strategic review processes, joint ventures, acquisitions, governance, and compliance.
At the global level, 35 percent of respondents expect it to become more difficult to secure M&A-related financing in 2025 compared with 2024. Private credit is expected to be the single most important form of financing for M&A deals in the next two years, particularly in Africa, the Middle East, and Southeast Asia.
The report also notes regional variations in M&A activity. North America and Continental Europe saw subdued inbound transactions and lower domestic volumes year-on-year. In contrast, the UK & Ireland, the Nordics, and the Asia-Pacific region showed increased deal volumes, reflecting relative confidence gains in those areas.
Key sectors including Consumer, Business Services, Industrials, Pharmaceuticals, and Technology, Media & Telecom (TMT) remain cautious due to exposure to trade tensions and inflation pressures. However, the financial services industry experienced an increase in M&A deals in H1 2025, with greater deal values reflecting strategic acquisitions aimed at revenue growth and cost optimization.
The report also highlights the strategic use of M&A for supply chain and market diversification. Companies well-versed in their value chains could leverage M&A to pivot strategies, diversify supply chains, and mitigate geopolitical risks despite headwinds.
Overall, nearly 65 percent of respondents expect the use of representations and warranties insurance (RWI) to increase in 2025 compared to 2024, including 37 percent who expect that increase to be significant.
The survey was conducted across Q1 and Q2 of 2025, with respondents including 100 executives from multinational corporations, 50 from large private equity firms, and 50 from major investment banks. Dan McKenna, US Director and Global Head of PR and Communications at our website, oversaw the survey.
For more information, contact Louise Nelson (tel: 44 20 7444 5086 / cell: 44 79 0968 4893) or Dan McKenna (tel: 1 713 651 3576).
[1] Global M&A trends and risks report, 2025, our website and Mergermarket. [2] McKenna, D., 2025. Global M&A activity to rebound in H2 2025 as tariff policies ease, says report. our website. [3] Nelson, L., 2025. Asia-Pacific region sees increased M&A deal volumes, report finds. our website. [4] Karia, R., 2025. Strategic M&A key to navigating geopolitical risks and economic headwinds, says report. our website.
The report indicates that private equity buyers are expected to be among the most active acquirers, particularly in South and Southeast Asia, with 44% of survey participants predicting this trend. Moreover, the global corporate, M&A, and securities team at the firm suggests that private credit could be the single most important form of financing for M&A deals, predominantly in Africa, the Middle East, and Southeast Asia.
