Global M&A Deals in H1 2026 – Top Themes by Sector: Strategic Intelligence

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If you want to understand the themes that drive an industry, simply look at the list of recent mergers and acquisitions (M&As). This report analyzes the disruptive themes that have driven M&A activity in H1 2026 across all sectors including materials, consumer, energy, financials, healthcare, industrials, technology, media & telecoms.

The global M&A market in H1 2026 witnessed deals worth $1.7 trillion, a growth of 47% compared to H1 2025.  The TMT sector led the M&A deal activity, with deals worth $373 billion recorded in H1 2026. Most of the sectors saw year-on-year growth in deal value in H1 2026. Mega-deals (defined as any deal valued at more than $1 billion) recorded a deal value worth $1.4 trillion in H1 2026, compared to $0.9 trillion in H1 2025.

Scope

This report provides an overview of merger and acquisition activity globally in H1 2026 across all sectors. This report takes a close look at the top deals in all the sectors and identifies the themes driving each of these deals. This report also looks at the deals trend across North America, Europe, China, APAC Ex-China, South America, and Middle east and Africa.

Key Highlights

The global M&A market in H1 2026 witnessed deals worth $1.7 trillion, a growth of 47% compared to H1 2025.  The TMT sector led the M&A deal activity, with deals worth $373 billion recorded in H1 2026. Most of the sectors saw year-on-year growth in deal value in H1 2026. Mega-deals (defined as any deal valued at more than $1 billion) recorded a deal value worth $1.4 trillion in H1 2026, compared to $0.9 trillion in H1 2025.

Reasons to Buy

Companies that invest in the right themes become success stories; those that miss the big themes end up as failures. If you want to understand the themes that drive an industry, simply look at the list of recent mergers and acquisitions (M&As).

This report lists the most notable deals across all sectors to make it easy for our clients to get a view of themes disrupting these sectors and prepare for the future.

SBM Offshore
3M Co
AbbVie Inc
Accenture Plc
Advent International Corp
Aegon UK plc
Affinius Capital LLC
Agnico Eagle Mines Ltd
AI & FutureTech Alliance Limited
Airtel Africa Plc
Ajax Therapeutics Inc
Alcoa Corp
Allfunds Group Plc
Allied Gold Corp
Amazon.com Inc
AMETEK Inc
Amplifon SpA
Amprion GmbH
Anadarko Basin
Angelini Pharma SpA
Anheuser-Busch InBev SA/NV
Anysphere Inc
Apellis Pharmaceuticals Inc
Apogee Therapeutics Inc
Apollo Management X, L.P.
Apple Inc
Ara VAC TopCo US LLC
ARC Resources Ltd
Arcellx Inc
Arcosa Inc
Ardian SA
Ares Management Corp
Arise Digital Technology Co Ltd
Asia Square Tower 2 Pte. Ltd
ASP CPM Holdings Inc
Athora UK Holding Ltd
atNorth ehf
Aura Group Inc.
Autodesk Inc
Bain Capital LP
Banco Santander SA
Banner Life Insurance Company
Bayer AG
Beazley plc
Belden Inc
Berkshire Hathaway Inc
Bharti Airtel Ltd
Biogen Inc
Bio-Techne Corp
Blackstone Inc
Blackstone Infrastructure Partners LP
Blue Owl Real Estate Capital LLC
Bodycote plc
Boralex Inc
Boston Scientific Corp
Brex Inc
Brookfield Renewable Partners L.P
Bullish
BVNK Holdings Ltd
Caesars Entertainment Inc
Caisse de depot et placement du Quebec
Caisse des Depots et Consignations
Canada Pension Plan Investment Board
Candid Therapeutics Inc
Capital One Financial Corp
Catalyst Pharmaceuticals Inc
CECO Environmental
Celerion Inc
Centessa Pharmaceuticals Plc
Chevron Philippines Inc
Chiesi Farmaceutici SpA
Chifeng Jilong Gold Mining Co Ltd
CIBC Caribbean Bank Ltd
Cintas Corp
CIRCOR Aerospace Inc
Clear Channel Outdoor Holdings Inc
Cogentrix Energy Power Management LLC
Cognite Holding B.V.
Coherent Corp
Coller Capital Ltd
Constellation Energy
Controlled Thermal Resources
CoolIT Systems Inc
Copenhagen Infrastructure V
Corebridge Financial
Coterra Energy
Covetrus
CPP Investments
Crestpoint Real Estate Investments, Ltd.
CRH Plc
CVC Capital Partners Plc
CVS Group Plc
Daiwa Next Bank, Ltd.
Dana
Danaher Corp
Day One Biopharmaceuticals Inc
Deutsche Borse AG
Development Bank of Japan Inc
Devon Energy Corp
Diafa Investment Holdings RSC Ltd
Dominion Energy
Donghai Securities Co. Ltd.
Dragos Inc
Dubai Aerospace Enterprise
ECHO Realty LP
Ecolab Inc
EDF Power Solutions Canada Inc
Edgewise Therapeutics
Eldorado Gold Corp
Eli Lilly and Co
ENEOS Holdings Inc
Energy Capital Partners
Energy Fuels Inc
Engie UK Holding Services Ltd
ENTRUST Solutions Group
EPL
ePointZero Holding RSC Ltd
EQT AB
EQT Infrastructure VI Fund
Equiniti Ltd
Equinox Gold Corp
Esco Technologies Inc
Evelyn Partners
Everllence SE
Excellergy Inc
ExxonMobil Guyana Ltd
Federal Republic of Germany
Fertitta Entertainment
Fidelity National Information Services Inc
First Capital REIT LP
Foran Mining Corporation
Forvia
Fox Corp
G Mining Ventures Corp
G2 Goldfields Inc.
General Atlantic LLC
GFL Environmental Inc
Gilead Sciences Inc
Global Business Travel Group Inc
Globalstar Inc
GN Store Nord
GOJO Industries Inc
Grange Newco LLC
Groupe Bruxelles Lambert SA
Grupo Financiero Banamex SA de CV
GSK plc
Hapag-Lloyd AG
Hartford Funds Management Group Inc
Henkel AG & Co KGaA
Hubbell Inc
Huntsman Corp
HyalRoute Communication Group Ltd
IHS Holding Ltd
I-MED Radiology Network Ltd
Incyte Corp
Indicor
Ingredion Inc
Inkia Energy Limited
Inpost SA
Intel Corp
Intercom Inc
International Flavors & Fragrances (IFF)
Intertek Group Plc
IOI Properties Group Berhad
IonQ Inc
Ipsen SA
Iridium Communications Inc
Isotope Bidco Ltd
ITV
IVECO Defence Vehicles Spa
Jardine Matheson Holdings Ltd
Jet Parts Engineering, Inc.
Jetro Cash & Carry
Kalvista Pharmaceuticals Inc
Kartos Therapeutics Inc
Kelonia Therapeutics Inc
Kestrel Coal Group Pty Ltd
Keurig Dr Pepper Inc
KingSett Capital
KKR & Co Inc
KNDS NV
Kodiak Building Partners
KONE Corp
Kreditanstalt fuer Wiederaufbau (Inactive)
Leidos Holdings Inc
Leonard Green & Partners LP
Leonardo SpA
Les Laboratoires Servier SAS
Lhoist North America Inc
Li Ning Co Ltd
Liberty Strategic Capital
LiveRamp Holdings Inc
Lone Star Fund XII
Long Lake Management Holdings Inc
Lonza Group
LS Power Equity Advisors, LLC
Lumentum Holdings Inc
Macquarie AirFinance Ltd
Madison Fire & Rescue
MaintainX, Inc.
Manulife Infrastructure Fund III
Martin Marietta Materials Inc
Marvell Technology Inc
Masimo Corp
Mastercard Inc
Megger Group Limited
Meiji Yasuda Life Insurance Co
Merck & Co Inc
Merck KGaA
Microsoft Corp
Minto Apartment Real Estate Investment Trust
Mister Car Wash Inc
Mitsubishi Corp
Mountain Lake Acquisition
MTN Group Ltd
MWI Veterinary Supply Inc
National Storage Affiliates Trust
Naturgy Energy Group SA
NatWest Group Plc
Navitas Credit Corp
NCR Atleos Corp
Nebius Group NV
Netomnia Limited
Neurocrine Biosciences Inc
Nexfibre Networks Ltd
Nippon Sheet Glass Co Ltd
Novartis AG
NSi Industries, LLC
Nuvalent Inc
Nuveen LLC
Nuvei Corp
NVIDIA Corp
OlinHuntsman Corp
OneStream Software LLC
OpenAI LLC
Organon & Co
ORIX Bank Corporation
Orla Mining Ltd
Orna Therapeutics Inc
Orsted
Ouro Medicines Inc
PacifiCorp
Parker Hannifin Corp
Payoneer Global Inc
Pension Insurance Corporation Group
Penumbra Inc
Perfuse Therapeutics Inc
Pikavation Therapeutics Inc
Poste Italiane SpA
Precision Aviation Group, Inc.
Prosperity Bancshares Inc
Public Storage
Publicis Groupe SA
Puma SE
Q.AI
Qoria Ltd
QXO Inc
Rapidus Co Ltd
RAPT Therapeutics Inc
Recordati SpA
Regis Resources Ltd
Renesas Electronics
Richard Caring
Robert A Ortenzio
Rocket Lab Corp
Roku Inc
Rosebank Industries PLC
Rowan Digital Infrastructure Pty Ltd
Ruckus Networks
Rupert Resources Ltd
RWE AG
Sabre Industries Inc
Salesforce Inc
Samsung Electronics Co Ltd
Savvy Games Group
Schneider Electric SE
Schroders Plc
Secure Waste Infrastructure Corp
Select Medical Holdings Corp
Semiconductor Components Industries LLC
Senior Plc
Shanghai Moonton Technology Co Ltd
Shell plc
Shionogi & Co Ltd
Sila Realty Trust Inc
Silicon Laboratories Inc
SiTime Corp
Sky Ltd
SkyWater Technology Inc
Societe Francaise du Tunnel Routier du Frejus
Soleno Therapeutics Inc
Soochow Securities Co Ltd
South32
Space Exploration Technologies Corp
Stahl Holdings BV
Standard Life Plc
Stellar Bancorp Inc
STT GDC Pte Ltd
Sumitomo Forestry Co Ltd
Sun Pharmaceutical Industries Ltd
Sutter Health
SV Management Switzerland AG
Swedbank Robur Fonder AB
Sweetwater Royalties LLC
Synaptics Inc
Sysco Corp
Talen Energy Corp
Tate & Lyle PLC
Taylor Morrison Home Corp
Team Services Group
TenneT Germany
Terns Pharmaceuticals Inc
Terra Quantum
Tesla Inc
Texas Instruments Inc
The AES Corp
The Bank of N.T. Butterfield & Son Ltd
The Brink's Co
The Clorox Co
Thomas H Lee Partners LP
Tidemark Management Company
TIM SpA
TopBuild Corp
Total System Services LLC
Toyota Asset Preparatory Co Ltd
Toyota Industries Corp
TPG Rise Climate
TransDigm Group Inc
Transocean Ltd
Traverse Midstream Partners LLC
Tri Pointe Homes Inc
True Corp Public Co Ltd
Tubulis GmbH
TWG Global, Inc.
UCB SA
UK Power Networks Holdings Ltd
UniFirst Corp
Unilever
Uranium Royalty Corp
Urbaser SA
USA Rare Earth Inc
Valaris Ltd
Vault Minerals Ltd
Vega Therapeutics Inc
Veris Residential Inc
Vertical Topco Ii SA
ViiV Healthcare Limited
Vistra Corp
Vodafone Group Plc
VodafoneThree Holdings Ltd
VSE Corp
Wafra Inc
Webster Financial Corp
Wellington Management Company LLP
Whitestone REIT
Yancoal Australia Ltd
Zeus UK Bidco Ltd
Zijin Gold International Co Ltd
ZIM Integrated Shipping Services Ltd.
Zurich Insurance Group Ltd
A&R Investments, Ltd.
Aethon United LP
ANTA Sports Products Ltd
ASP MWI Holdings Inc
Astra Veicoli Industriali SpA
Bain Capital LP
Banco BTG Pactual SA
Blackstone Strategic Partners
Brookfield Corp
Chevron Malaysia Ltd
Choice Properties Real Estate Investment Trust
EDF Power Solutions Inc
EQT Infrastructure VI Fund
Equinix Inc
General Atlantic Service Company, L.P.
Global Infrastructure Partners LLC
I Squared Capital
John Hancock Life Insurance Co
Mont Blanc Autoroutes and Tunnel Co
Mubadala Capital
NetRise Inc
Norges Bank Investment Management
Olin Corp
Singapore Telecommunications Ltd
Substantial Group
Vacuumschmelze GmbH & Co. KG
Victor Sierra Aviation Holdings LLC
Vista Hill Partners
Welsh, Carson, Anderson & Stowe
William Penn Life Insurance Company of New York Inc.
Aethon III LLC
Caisse de depot et placement du Quebec
Chubb Ltd
Hg Capital LLC
Martin F. Jackson
Portland General Electric Co
PPF Group
PSP Investments Canada Inc
PT Chevron Oil Products Indonesia
runZero, Inc
Societe pour le logement intermediaire
SoftBank Group Corp
StepStone Group Inc
AlpInvest Partners B.V.
Blackstone Inc
California Public Employees' Retirement System
Chevron Singapore Pte Ltd
FCWB LLC
The Government of Japan
TPG Real Estate Partners
Canon Inc
Chevron Australia Downstream Holdings Pty Ltd
CPP Investment Board Private Holdings (4) Inc
General Atlantic LLC
CVC Capital Partners Fund IX
Qatar Investment Authority
Sony Group Corp
Afore SURA
Fujitsu Ltd
Luxinva S.A.
Andrea Recordati
NTT Inc
Information-Technology Promotion Agency,Japan, I.A.I.
MGG Strategic SICAF SIF SA
Respighi BidCo SPA
PSP Europe LP
Allina Health
Devon Energy
Eaton
Equitable Holdings
Indovida India
McCormick
NextEra Energy
Plum Acquisition IV
Thermon Group Holdings

Table of Contents

Executive Summary

Review of the Global M&A Market – H1 2026

Top Themes Driving M&A Activity – H1 2026

Top M&A Deals by Sector – H1 2026

Top M&A Deals by Geography – H1 2026

Further Reading

Report Authors

Appendix 1: Deal Selection Criteria

Appendix 2: Our Thematic Research Methodology

Contact Us

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