Upcoming Market Mergers and Acquisitions Analysis for 2025
In the dynamic world of mergers and acquisitions (M&A), 2025 has seen a surge in deal momentum driven by strategic growth, technology disruption, and the return of sponsor liquidity after regulatory and monetary normalization.
The financial services sector, in particular, has shown a notable rebound, with regulatory easing encouraging deal activity. Private equity is a major driver, especially in insurance, where $500B in dry powder is fueling acquisitions focused on tech-enabled platforms, big data, and AI integration. Deal value rose sharply due to strategic consolidation in banking and insurance.
Cross-border M&A is on the rise, with regional champions emerging especially in Latin America and new activity from Asia and the Middle East. Megadeals (over $10 billion) surged, making up a growing share of global M&A value, while smaller deals declined.
The M&A market is also characterised by a greater focus on strategic growth and portfolio simplification, which typically supports a dual track approach where companies pursue IPOs while preparing for possible acquisitions. Pre-IPO acquisitions align with investors seeking to secure growth before listing.
However, regulatory scrutiny remains a key factor, particularly in the US, with dealmakers hoping for relaxed rules though this has not materialized yet. Historically, CFIUS (Committee on Foreign Investment in the United States) and antitrust review have tightened under previous administrations including Trump, emphasizing national security. The latest 2025 market data suggests ongoing cautiousness around regulation.
Common purchase price adjustments in financial services transactions are analysed, as are considerations in conducting "dual track" M&A and IPO processes. The reports do not provide explicit details on VC-backed company deal terms in 2025, but generally, with increased sponsor activity and liquidity, terms often reflect a balance between growth strategy and investor returns.
For those interested in staying updated on the latest M&A trends, WilmerHale offers a M&A blog and mailing lists. The M&A Report provides a detailed review of the M&A market and outlook, including common takeover defenses, potential developments in antitrust and CFIUS, and insights into various aspects of M&A. The full report, IPO Report, and Venture Capital Report can be found on the website, with the Venture Capital Report forthcoming.
Subscribe to Material for updates on M&A, and stay informed on the latest developments related to M&A by subscribing to the mailing lists. The M&A Report is available for reading in full, as are the IPO Report.
Venture capital firms, given the surge in deal momentum, may find opportunities to invest in technology-focused companies within the financial services sector, given the $500B in dry powder available for acquisitions. However, despite regulatory easing, there remains a heightened focus on antitrust and foreign investment reviews, particularly in the context of the Committee on Foreign Investment in the United States (CFIUS).
