The M&A Boom That Wasn't
In early 2025, the anticipated M&A boom failed to materialize as global tariffs, market volatility, and regulatory caution kept deal volumes near historic lows, despite a handful of megadeals.
Published on March 29, 2025
Global dealmakers have seen a slowdown in mergers and acquisitions, despite a few megadeals buoying overall M&A values. In early 2025, persistent global tariffs, market volatility, and cautious regulatory policies have kept the number of transactions at their lowest since 2015, even as high-profile deals such as Blackstone’s stake in UK airports and Alphabet’s acquisition of cybersecurity company Wiz made headlines.
Additional challenges have emerged amid a turbulent economic backdrop. The Trump administration’s trade policies continue to cast a shadow over multiple sectors—from the troubled car industry facing tariff-induced chaos to healthcare and biotech deals stalling under policy uncertainty. Notable developments include Warren Buffett’s steadying investment in Precision Castparts, the imminent leadership change at Deutsche Bank with Raja Akram set to replace James von Moltke in October, and Brazilian mogul Ricardo Faria, the so-called 'Egg King,' entering the US market with a $1.1bn purchase of Hillandale Farms. (Sources indicate these events were reported around late March 2025.)