2026年并购展望报告：韧性回归 战略重启

2026M&A Outlook2026 and strategic recoveryand strategic recovery ContentsContents Executive summaryExecutive summary A tale of two halvesA tale of two halves The US pulls ahead Deal speeds A market thatA market that on deal timelines vary regionally defied headwindsdefied headwinds Will AI finally acceleratedeal timelines in 2026? The long-term reality:Slower by design Real estate races aheadReal estate races ahead Not all tech movesat the same speedNot all tech moves Tech gets stuckin the slow laneTech gets stuckintheslowlane ExecutivesummaryExecutivesummar Our analysis of global deal activity showsfive defining dynamics:Our analysis of global deal activity shows 2025 wasn’t the straight-line recovery many had hoped forin globalM&A.Instead, it was a year split cleanly in two.2025 wasn't the straight-line recovery many had hoped forin global M&A. Instead, it was a year split cleanly in two. An analysis ofM&A projects opened and managed through theIdeals Virtual Data Roomreveals that although deal timelinesremainedbroadlyflat overall, the underlying market dynamicsshifted significantly.An analysis of M&A projects opened and managed through theIdeals Virtual Data Room reveals that although deal timelinesremained broadly flat overall, the underlying market dynamicsshifted significantly Average deal duration reached 264 days in 2025,1. Deal timelines remained broadly stable. up 3% year-on-year and nearly 30% longer than in 2020.up 3% year-on-year and nearly 30% longer than in 2020. Despite a volatile first half, 2025 finished with a 3% year-on-year increasein virtual data room openings, signalling renewed execution into 2026.3.The US pulled further ahead.Despite a volatile first half, 2025 finished with a 3% year-on-year increase aftertariffshadupendedearlyoptimism.after tariffs had upended early optimism. early-year momentum, forcing many deals to pause or slow.Butby the second half of the year, dealmaking regained its footing,ledby large, strategic transactions in technology, infrastructureand energy-adjacent assets.This followstentative improvement in 2024, when average dealNorth American deal timelines shortened while Europe slowed,reinforcing a widening transatlantic gap.4.Growing complexity is slowing execution.early-year momentum, forcing many deals to pause or slow.But by the second half of the year, dealmaking regained its footing,3. The US pulled further ahead.led by large, strategic transactions in technology, infrastructureNorth American deal timelines shortened while Europe slowedand energy-adjacent assets.reinforcinga wideningtransatlantic gap duration fell 4% after several years of delays, and shows progressis rarely linear.Our 2025 data reflects a market adjusting to newuncertainties while continuing to pursue strategic opportunities.“The first half of the year was about caution,”says DevenMonga,5.AIisn’t accelerating deal timelines–yet.duration fell 4% after several years of delays, and shows progressis rarely linear. Our 2025 data reflects a market adjusting to newuncertainties while continuing to pursue strategic opportunities.5. Al isn't accelerating deal timelines - yet. Larger deal teams, deeper diligence and higher multiples are extendingtimelines, even as technology improves efficiency.Larger deal teams, deeper diligence and higher multiples are extendingtimelines, even as technology improves efficiency by deeper analysis.Adoption is rising, but efficiency gains are being absorbed VPofSales atIdeals.“Then, once the uncertainty they facedbecame morequantifiable, dealmakers moved decisively.The rebound inH2 shows the market’s pause wasn’t a retreat,but a recalibration.”VP of Sales at Ideals. "Then, once the uncertainty they facedbecame more quantifiable, dealmakers moved decisively.The rebound in H2 shows the market's pause wasn't a retreat,but a recalibration." A market thatdefied headwindsA market thatdefied headwinds BCGdescribes 2025 as a year in which the M&A market “defiedheadwinds and steadily recovered.” BCG describes 2025 as a year in which the M&A market "defiedheadwinds and steadily recovered." Despite growing complexity, our customerskept deal timelines on track through moredeliberate and structured execution.Despite growing complexity, our customerskept deal timelines on track through moredeliberate and structured execution. Even amid inflation, regulatory scrutiny and complex trade policies,global M&A remained resilient. Our data supports this: average dealduration rose just 3% year-on-year to 264 days in 2025. global M&A remained resilient. Our data supports this: average dealduration rose just 3% year-on-year to 264 days in 2025. on track through more deliberate and structured execution,”says Daniel Black, VP of Business Development for EMEA andLATAM at Ideals.on track through more deliberate and structured execution,"says Daniel Black, VP of Business Development for EMEA andLATAM at Ideals. VP of Business Developmentfor EMEA and LATAM at