See the Big Picture for M&A in 2025
Big Picture for M&A in 2025: Bright spots, shadows on dealmaking horizon
The rate-cutting cycle that began in 2024 is expected to boost M&A activity, as lower interest rates and higher stock valuations will help align buyers' bids with sellers' expectations. This environment will encourage more deals from private equity, which can leverage easing rates to unlock pent-up demand for acquisitions. Key sectors to watch include oil and gas, which saw $225 billion in North American M&A transactions over the last year, and technology, where M&A spending has rebounded but remains subdued due to macroeconomic challenges. Despite ongoing antitrust concerns, the momentum in these sectors suggests significant potential for dealmaking recovery moving forward.
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