Strategic dealmaking is driving a rebound in M&A

The M&A market vibes were positive six months into 2026, and strategic transactions were a major factor behind dealmaking.

First-half US deal activity increased 72% YoY in value and 9% in volume, according to Dealogic data shared with CFO Brew. In early June, EY-Parthenon forecast that US M&A volume of deals valued at over $100 million would end the year 8% ahead of 2025.

Globally, M&A activity is “on track for the second-highest year ever,” with deal count up 10% and deal value up 41% through the first five months of the year, according to a Bain report.

M&A is in the midst of what Bain is calling “the great rebound,” according to Suzanne Kumar, EVP of the firm’s global M&A and divestitures practice. Dealmakers are benefiting from stable interest rates and “a more favorable regulatory environment,” and they’ve gotten used to navigating macro headwinds like trade disruption in the Strait of Hormuz and the Trump administration’s extensive tariff policies, Kumar told CFO Brew.

“The reason that executives are keeping their eye on the horizon and looking past near-term events is because there’s a really deep strategic need to transform and to pursue growth right now,” she said.

What’s driving strategic dealmaking? AI is a primary driver of organizations’ strategic pivots, according to Kumar. The technology is spurring dealmaking beyond the tech sector, she said, pointing to NextEra Energy’s proposed acquisition of Dominion Energy. The $67 billion tie-up involves “two leading players in the race to meet growing electricity demand from data centers” powering AI, CNBC reported.

Companies are also executing deals to adapt to the global shift “from more of a free flow of goods and capital and labor to a multipolar world” with more restrictions, Kumar added. CFO Brew previously explored how shifts in global relationships have also changed geopolitical risks.

“There are a lot of transformative, multiyear forces that are requiring boards and executives to look at their strategy [and] really understand what’s going to be driving growth, and oftentimes M&A’s a part of that,” she said.

CFO Brew reporter Luisa Beltran contributed to this story.