M&A value reaches $319 billion in Q1 2026

Global mergers and acquisitions reached $319 billion in transaction value during the first quarter of 2026, up from $283 billion in the same period of 2025, according to data compiled by S&P Global Market Intelligence. Deal volumes, however, fell to their lowest level in several years, the firm’s Global Industry Merger & Acquisition Trends Q1 2026 Report shows.

The combination of higher dollar totals and fewer transactions produced what the report described as a multi-speed market in which buyers concentrated capital on larger, higher-quality opportunities.

Financing costs, geopolitical risks, and macroeconomic uncertainty continued to weigh on smaller and mid-market transactions, the report stated. Large strategic buyers instead directed capital toward critical commodities, energy assets, and infrastructure-heavy technologies.

Metals and mining showed one of the clearest examples of this concentration, with total deal value in the sector rising sharply even as the number of transactions remained limited.

S&P Global Market Intelligence published the report on or before June 13, 2026.