The M&A Boom Continues: Notable Deals and the Banks Behind Them

Global M&A activity has accelerated through early 2026, fueled by pent-up deal demand, stabilizing interest rates, and a more accommodating regulatory environment. After a subdued 2023 and a recovery year in 2024, the M&A market has returned to form with a wave of transformative transactions across technology, healthcare, and financial services.

The Advisory League Tables

Goldman Sachs has reasserted its position at the top of the global M&A advisory league tables, advising on transactions totaling approximately $1.48 trillion in combined deal value during the trailing twelve months. Morgan Stanley ranked first by aggregate deal value at $872.7 billion, while Houlihan Lokey topped the charts by deal volume, reflecting its dominance in the middle market.

Elite advisory boutiques continue to gain share. Centerview Partners, Evercore, Lazard, and PJT Partners all recorded strong mandates during Q1, particularly in high-profile public company transactions where independent advice is valued. The trend toward boutique advisors reflects a broader shift in how boards and management teams think about conflicts of interest in M&A.

Notable Transactions

Several landmark deals defined the early months of 2026. In technology, a series of large-scale acquisitions in the AI infrastructure space underscored the sector's rapid consolidation. In healthcare, sponsor-backed platform combinations continued at pace, with multiple multi-billion-dollar mergers among PE-backed healthcare services businesses.

Cross-border activity has been particularly strong, with European and Asian acquirers targeting U.S. assets and vice versa. The reopening of the leveraged finance markets has provided additional fuel for leveraged buyouts and take-privates, contributing to a robust pipeline heading into the second quarter.

Talent Demand in M&A

The resurgence in deal activity has created intense demand for experienced M&A professionals at every level. Banks are competing aggressively for lateral hires with live deal experience, sector expertise, and client relationships. For professionals in the space, the current market represents an unusually strong environment for career advancement and compensation growth.