Mergers and acquisitions (M&A) in 2024 have been characterized by a surge in large-scale deals, according to WTW’s Quarterly Deal Performance Monitor. Despite global economic and geopolitical challenges, the volume of transactions valued at over $1 billion has risen to a two-year high, with 46 deals completed in the third quarter—a 31% increase compared to the same period in 2023. Megadeals, valued at over $10 billion, have also seen a resurgence, with 13 such deals completed globally, more than doubling last year’s figures. This uptick in large deals signals renewed corporate confidence, particularly in sectors opting for intra-sector consolidation to strengthen market positions.
However, not all regions have benefited equally. While Europe saw its first positive M&A performance since 2021, with dealmakers outperforming by 2.1 percentage points (pp), North America and Asia Pacific struggled. North American dealmakers underperformed their regional index by -10.1pp, marking seven consecutive quarters of decline, while Asia Pacific buyers recorded a -3.1pp underperformance. In China, deal activity remains at its lowest since 2011. Experts emphasize the importance of thorough due diligence and strategic integration to navigate the complexities of larger deals and enhance long-term value creation.
