Uncertainty has become a defining feature of the M&A landscape in recent years. After a stellar post-pandemic rebound and a catastrophic 2023, the end of 2024 marked a period of hope for company executives — before US trade policy came to rain on the parade.
“Despite persistent macroeconomic headwinds, including elevated recession risk, geopolitical instability, and renewed trade friction, global M&A remained remarkably resilient in the first half of 2025,” said Garrett Hinds, PE senior research analyst at Pitchbook.
