ARTICLE
31 March 2026

M&A – Our Sector And Broader Perspectives For 2026

KL
Herbert Smith Freehills Kramer LLP

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Herbert Smith Freehills Kramer is a world-leading global law firm, where our ambition is to help you achieve your goals. Exceptional client service and the pursuit of excellence are at our core. We invest in and care about our client relationships, which is why so many are longstanding. We enjoy breaking new ground, as we have for over 170 years. As a fully integrated transatlantic and transpacific firm, we are where you need us to be. Our footprint is extensive and committed across the world’s largest markets, key financial centres and major growth hubs. At our best tackling complexity and navigating change, we work alongside you on demanding litigation, exacting regulatory work and complex public and private market transactions. We are recognised as leading in these areas. We are immersed in the sectors and challenges that impact you. We are recognised as standing apart in energy, infrastructure and resources. And we’re focused on areas of growth that affect every business across the world.
We have now published the sector and broader perspectives chapter of our global M&A report for 2026.
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We have now published the sector and broader perspectives chapter of our global M&A report for 2026.

In the first chapter, ‘Hanging out, ‘situationships’ and going official: it’s complicated’, we explored the global trends we saw in M&A in 2025 – from early hesitation to late‑year momentum – and what we expect in the year ahead.

We discussed:

  • how tariffs and trade tensions are reshaping global M&A strategies;
  • increased disputes risk in deals caused by regulatory and economic shifts;
  • AI’s impact on M&A deals;
  • the skillsets needed by dealmakers to get deals done; and
  • how activists are accelerating restructurings, divestments and deal activity.

We launched our Regional Perspectives in February, where experts from our offices around the world shared insights into the dynamics shaping dealmaking in their region, the pressures and opportunities emerging from 2025’s trends, and what these mean for 2026.

In our sector and broader perspectives chapter, we explore topics across a range of sectors and perspectives. From the state spending driving deals in the defence space and consolidation in cybersecurity, to the challenges facing the automotive industry and regional dispatches on the latest developments in energy.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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