Global Trends In Private M&A 2026

A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets. This combination creates a new kind of law firm, one built to achieve unparalleled outcomes for our clients on their most complex, multijurisdictional matters – everywhere in the world. A firm that advises at the forefront of the forces changing the current of global business and that is unrivalled in its global strength. Our clients benefit from the collective experience of teams who work with many of the world’s most influential companies and institutions, and have a history of precedent-setting innovations. Together our lawyers advise more than a third of NYSE-listed businesses, a fifth of the NASDAQ and a notable proportion of the London Stock Exchange, the Euronext, Euronext Paris and the Tokyo and Hong Kong Stock Exchanges.

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Our annual client presentation on global trends in private M&A is built upon an in-depth analysis of more than 2,000 private M&A deals that we have advised on.

Worldwide Corporate/Commercial Law

David Broadley,Dirk Meeus,Elizabeth Wall

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Our annual client presentation on global trends in private M&A is built upon an in-depth analysis of more than 2,000 private M&A deals that we have advised on. As a global market leader, we are uniquely placed to evaluate deal dynamics, execution risks, and M&A deal terms.

Thanks to our global expertise and unrivalled deal data, we can interpret the private M&A landscape, identify risks and opportunities, and help clients harness current market trends. In this presentation, we will offer insights to help you understand and navigate the evolving private M&A market.

Key trends for 2025 include:

Increased M&A confidence in second half
A mixed picture for auctions
Policy shifts shape antitrust strategies
Unpredictable foreign investment outcomes lead to increase in reverse break fees
Market uncertainty sees earn-outs and deferred payments increase
R&W insurance now used in half of M&A deals globally
Buyers pushing boundaries on deal terms

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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