奥纬咨询：欧洲并购动能：2026年十大交易主题前瞻报告（英文版）（15页）.pdf

1、Momentum in European M&ATop ten deal themes for 2026CAPITAL CURRENTS Oliver Wyman2Capital Currents is a cross-industry series focused on distilling the key trends in M&A and identifying how management teams can capture value.Oliver Wyman3Despite the turmoil and economic uncertainty,dealmaking return

2、ed in force in 2025,and we expect the momentum to continue into 2026.Global M&A was up more than 30%last year,while Europe also saw strong growth,up 12%in deal value to about$820 billion,as investors rotated asset allocation to Europe.The last 12 months heralded a new-found conviction that Europe mu

3、st go faster to consolidate and build sovereign scale,in many sectors including in defense,banking and technology.While volatility seems likely to remain elevated in 2026,with geopolitics,rates and tariffs remaining uncertain,what is certain is that the case for consolidation for many European secto

4、rs remains strong.Corporate profitability continues to be robust across sectors,up 50%from pre-2008 levels,yet European companies remain sub-scale and European industries more fragmented than the US.The case for acquiring critical capabilities remains and with elevated valuations the Eurostoxx 600 w

5、as up 15%year-on-year during 2025 many European corporates have the acquisition currency to act boldly.The strong pipeline of announced but not yet completed deals,combined with global capital availability and easing regulatory dynamics,suggests sustained M&A activity in 2026.This edition of Capital

6、 Currents distills the top 10 themes expected to shape European M&A in 2026.It outlines our conviction and the views of industry experts we interviewed,the conditions for success,and how management teams can create value out of opportunity.Exhibit 1:European M&A volumes continue to recover,yet remai