ANALYSIS: M&A Deals Saw Rare Q2–Q3 Increase; Q4 Bump Uncertain

For the first time since 2020, and for just the second time in the last five years, there was a Q2-to-Q3 increase in global M&A deal volumes in 2024. Dealmakers will likely face headwinds through the end of the year, though, so the traditional end-of-year rally in mergers and acquisitions may not materialize.

Q3’s global deal volume—covering a variety of transaction types, including investments and controlling-stake M&A deals—was the highest third-quarter total ($863.9 billion) since Q3 2021 ($1.3 trillion). 2024’s total global M&A deal volume through Q3 ($2.4 trillion) is also higher than for the same time span in 2023 ...