M&A Completion Rates Climb Despite Slower Pipeline in 3Q26
Event summary
- Global M&A deal kickoffs fell 2% YoY in 3Q26, while completion rates rose to 49%.
- APAC deal kickoffs surged 11%, leading all regions, with energy and power kickoffs up 13%.
- Private equity activity increased 7% YoY, while law firm activity declined 13%.
- Global median preparation time dropped to 12 days, but APAC diligence time rose to 235 days.
The big picture
The data reflects a market where dealmakers are prioritizing quality over quantity, with APAC and energy sectors showing resilience. Rising completion rates suggest buyers and sellers are advancing high-conviction opportunities despite a softer pipeline. Private equity’s increased activity signals continued interest in evaluating deals, even in a selective environment.
What we're watching
- Regional Disparities
- Whether APAC’s 11% kickoff growth and 56% completion rate can sustain momentum into 2027.
- Sector Selectivity
- How energy and power’s 13% kickoff surge will impact broader M&A trends amid tech and healthcare declines.
- Private Equity Role
- The pace at which private equity’s 7% activity increase translates into completed transactions.
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