Will the M&A Market Strengthen in 2026?

Baird's 2026 M&A Outlook

As a year of uneven M&A activity concludes, Baird Global Investment Banking is monitoring signs of ongoing recovery in global M&A activity. We believe the M&A market is positioned for a strong 2026. In our outlook, we delve into themes we’re monitoring and signals that suggest M&A is poised to shift into a higher gear, including:

1. Solid underlying M&A fundamentals and pent-up supply/demand
2. Surge in corporate mega deals and take-privates by PE firms
3. Stabilizing macro and policy backdrop
4. Improved sentiment, as seen in Baird’s recent M&A advisory activity
5. Strength in $1+ billion deals, a leading indicator for middle-market M&A
6. Well-capitalized corporates positioned to pursue transformative deals
7. Sponsors focused on achieving liquidity for mature holdings
8. Broadening private equity appetite amid lower financing rates

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Please contact Baird’s Global M&A team for further details on key trends within our processes and to discuss your M&A plans.