Global M&A activity spikes 42% in first half of 2026 despite geopolitical tensions

The worldwide market for mergers and acquisitions surged 42% in the first half of 2026, reaching roughly $2.9 trillion, according to PitchBook. Major deals announced include Uber’s €12.7 billion acquisition of Germany’s Delivery Hero, ABB’s €4.7 billion purchase of British industrial equipment maker Rotork, and competing US investment funds eyeing British airline easyJet. Payment‑sector suitors Stripe and Advent have floated a tentative $53 billion offer for PayPal. Analysts attribute the boom to manageable market volatility, abundant financing, and high equity valuations, which make leveraged buyouts easier even as geopolitical strains—such as renewed hostilities in the Strait of Hormuz and recent US‑Israel strikes on Iran—persist.

A Bain & Company report cited by Polish media confirms the trend, noting a 10% rise in transaction count and a 41% increase in deal value over the first five months of 2026, to $2.4 trillion. Activity is strongest in energy, industrial, technology, and health sectors, with megatransactions over $10 billion up more than 50% year‑on‑year. Financing structures are shifting, with cash‑and‑stock deals hitting a historic 35% share, while strategic investors have boosted the value of their deals by 36% despite stable pricing multiples. The AI boom is cited as a key driver of recent large‑scale acquisitions.