Global dealmaking fell below $1 trillion in the third quarter as the 2026 M&A boom cooled.
Financial Times analysis put third-quarter transaction value at $986 billion, down sharply from nearly $1.7 trillion in the preceding quarter.
By TomorrowNews · AI-assisted briefing · Briefing published 5 October 2026
AI-generated illustration — not a photograph of the event. The transaction blocks and market setting are conceptual and do not represent a specific deal. · TomorrowNews / AI-generated illustration
The Financial Times reported that global mergers and acquisitions totalled about $986 billion in the third quarter, retreating from almost $1.7 trillion in the second quarter. The slowdown interrupted a powerful run of large transactions earlier in 2026.
Deal value for the first nine months still reached roughly $3.9 trillion, close to the $4.2 trillion recorded over the same period in the 2021 peak. The report linked greater caution to high borrowing costs and uncertainty over how artificial intelligence will alter corporate valuations.
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This is an original summary, not a republication of the full report.
