Global dealmaking topped $4tn this year for the first time since the boom of 2021, as a record number of megadeals lifted investment banking fees to their second-highest level ever.
A total of 68 deals worth at least $10bn each reshaped sectors from the media to industrials, as companies took advantage of buoyant markets, readily available financing and less stringent US regulation to attempt strategic transactions that would not have been possible in other conditions.
Worldwide mergers and acquisitions increased by almost 50 per cent from 2024 to $4.5tn, according to data from the London Stock Exchange Group. It is the second-highest total in more than 40 years of records, topped only by the 2021 pandemic frenzy of dealmaking.