Deloitte Survey: Dealmakers Eye Cross-Border Growth Amid Cautious Optimism
Event summary
- 67% of dealmakers expect deal volume to increase in the next six months, down 19 points from fall 2025.
- 65% of respondents cite growth and expansion as a high or medium priority for cross-border M&A.
- UK is the top market for foreign expansion, with 52% of corporate leaders and 43% of PE leaders targeting it.
- Top 10 deals accounted for 43% of total Q1 2026 deal value, highlighting a 'tale of two markets' dynamic.
The big picture
Deloitte's midyear M&A Trends Pulse Survey reveals a market balancing cautious optimism with disciplined dealmaking. While 67% of respondents expect deal volume to rise, the 19-point drop in expectations from fall 2025 signals lingering volatility. Cross-border deals remain a key growth lever, particularly targeting the UK, but success hinges on managing execution risks in compliance, supply chain, and tax. The concentration of deal value in the top 10 transactions underscores the bifurcated nature of the M&A landscape, where uncertainty creates openings for disciplined dealmakers.
What we're watching
- Execution Risk
- How dealmakers manage compliance, supply chain, tax, and revenue synergy capture will determine cross-border deal success.
- Market Volatility
- Whether the measured expectations for deal volume and value will hold amid ongoing macroeconomic uncertainty.
- Strategic Priorities
- The pace at which growth and expansion motivations drive cross-border activity despite cautious dealmaking trends.
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