DealLawyers.com Blog

EY recently published its monthly report on M&A activity, and had a lot of positive things to say about the current deal environment. Here are some of the highlights:

– September 2025 saw overall deal value soar, driven by several high-value transactions, with private equity (PE) continuing to play a leading role. Deal value jumped 109.7% in the month compared with a year earlier, while M&A activity increased 41% in volume compared to the same period.

– Overall, mega deals (US$5b+) increased by 176.4% in value and 80% in volume compared to September 2024. The US led the market, representing about 72% of global deal value in September.

– The surge in mega deals during September set the stage for a record-breaking Q3 2025, which emerged as the most active period for M&A this year. Compared to Q3 2024, total deal value rose by 238.7% and deal volume increased by 163.6% for deals valued US$5b+, underscoring heightened investor confidence and a strong appetite for large-scale strategic transactions.

– PE was a major force behind the increase in US deal activity in the month, fueling both M&A and initial public offerings.

The report says that deal momentum moving into the fourth quarter remains strong. It cites a significant backlog of deals poised to move forward if market conditions continue to stabilize, and says that 48% of CEOs globally plan to pursue more deals. So, what could throw the proverbial turd in the year-end dealmaking punchbowl? The report cites unstable tariffs, new investigations and the federal government shutdown.

– John Jenkins