The cumulative value of deals announced in 2026 has already reached $211bn, surpassing any full year since 2018. Meanwhile, activity in the first seven months of the year is approximately 80 per cent higher than that recorded in the same period of 2025.
Report by Morgan Stanley
One of the most notable developments in recent weeks has been the sharp rebound in M&A activity in Europe, a trend that has continued to gather pace with recent new announcements.
The cumulative volume of deals announced in 2026 has already reached $211bn, surpassing any full year since 2018. Meanwhile, activity in the first seven months of the year is approximately 80 per cent higher than that recorded in the same period of 2025.
According to derivatives strategists, this recovery is increasingly being driven by large-scale deals, including Intesa Sanpaolo’s bid for Banca Monte dei Paschi di Siena, valued at $35bn – the largest M&A transaction in Europe since 2018. The strong momentum in the UK market, renewed interest in cross-border deals and the gradual return of private equity suggest that the cycle could continue to gain momentum throughout 2026 and 2027.
