What’s Ahead for Mergers and Acquisitions in 2025?

Trends, Regulatory Shifts, Sector Outlooks, and Data Tools for Smarter Deals

Global M&A volume reached $3.17 trillion in 2024—a 9.8% year-over-year increase—marking a cautious rebound from 2023’s subdued deal environment. Despite the gains, megadeals remained scarce as heightened regulatory scrutiny and financing headwinds slowed execution.

Now, early 2025 presents a different landscape: a new U.S. administration under President-elect Donald Trump, Republican control of Congress, and early signals of deregulation across financial markets. Dealmaking optimism is building—but the path forward demands precision.

🔍 Regulatory Outlook: The Deregulation Era Begins (Cautiously)

Changing Winds at FTC and DOJ

With leadership transitions expected at the Federal Trade Commission (FTC) and Department of Justice Antitrust Division, many expect a rollback of the aggressive enforcement that characterized 2022–2024. Dealmakers are hopeful this will ease constraints on horizontal mergers, especially in financial services and telecom.

However, areas of persistent sensitivity remain:

• Semiconductors, AI infrastructure, and defense-related assets will continue to face scrutiny under CFIUS.

• The new “Reverse CFIUS” rules, which permit review of U.S. outbound investments into adversarial nations, add complexity to multinational transactions.

The regulatory trend favors domestic, middle-market consolidation—particularly sponsor-to-sponsor and strategic tuck-ins.

📊 Sector Highlights: Where M&A Is Heating Up in 2025

1. Energy, Renewables & Infrastructure

• Major upstream consolidation continues: ConocoPhillips’ acquisition of Marathon Oil and Diamondback’s merger with Endeavor Energy signal renewed scale-seeking.

• Infrastructure funds are targeting data center power supply, battery storage, and carbon capture assets.

2. Technology and Fiber Infrastructure

• Consolidation across SaaS, AI enablement, and cybersecurity continues.

• Fiber and edge computing infrastructure is seeing high velocity M&A, with T-Mobile, Verizon, and Crown Castle acquiring regional providers to expand 5G and low-latency coverage.

3. Healthcare & Life Sciences

• Expect aggressive activity from big pharma as patent cliffs loom. Firms like Pfizer, Amgen, and AbbVie are expected to pursue CDMOs and platform biotech acquisitions.

• Medical device roll-ups and digital health convergence (e.g. wearables + diagnostics) are heating up.

💼 Private Equity: Flexible Capital, Complex Exits

Private equity enters 2025 with over $2.3 trillion in dry powder, according to Bain & Company’s Global Private Equity Report.

Key Trends:

• Continuation funds are growing, especially for aging portfolio assets where IPOs are stalled.

• Cross-fund secondaries and GP-led recapitalizations are replacing traditional exits.

• Private equity club deals are more common in $1B+ enterprise value transactions.

Rise of Private Credit:

• Direct lending funds like Blackstone Credit, Apollo, and Blue Owl are stepping into M&A deal financing as banks tighten underwriting standards.

• Expect increased use of unitranche, PIK toggles, and NAV-based financing.

IR teams and deal leads should prepare for non-linear exit timelines and incorporate flexible structures into diligence processes.

🛡️ Activist Pressure & Legal Risk in M&A

Shareholder Activism Rises Again

Campaigns rose by 6% in 2024 according to Lazard’s Q4 Shareholder Activism report. M&A remains a central theme:

• Calls for spin-offs and carve-outs

• Pushback on perceived undervalued take-private offers

• Demands for capital return instead of expansion

Delaware Rulings Shake Up Deal Structures

In 2024, the Delaware Court of Chancery issued rulings with wide M&A impact:

• Stricter standards on board process fairness in deals involving controlling shareholders

• Increased litigation risk on dual-track sale processes

Early-stage legal and governance review is now essential—even in private company transactions.

🔎 How Altss Helps IR and Corp Dev Navigate M&A in 2025

In an increasingly opaque LP and acquirer landscape, modern IR and corp dev teams are turning to Altss for verified deal intelligence and LP tracking.

Why GPs and M&A Professionals Use Altss:

• ✅ Track 5,000+ verified family offices, PE funds, and corporate acquirers

• 📅 Real-time mandate data helps you time outreach when LPs and buyers are actually deploying

• 📈 OSINT-powered alerts keep you ahead of new funds, expansions, and hiring waves

• 🧾 Access firm-level profiles enriched monthly—emails, decision-makers, fund history, AUM, and more

Legacy databases are often outdated and lack LP behavior signals. Altss fills that gap with high-frequency, verified data for modern investor targeting and deal prep.

📉 Exit & Liquidity Forecasts: Be Prepared, Be Realistic

🎯 Strategic Recommendations for 2025 Dealmakers

To outperform in today’s M&A landscape, IR leads, fund managers, and corp dev execs should:

1. Leverage LP intelligence: Use Altss to map capital availability and identify co-investors or exit buyers by mandate status.

2. Focus on legal risk early: Apply Delaware rulings to pre-term sheet planning; avoid post-signing friction.

3. Prepare for financing variability: Blend sponsor equity with private credit where bank debt is constrained.

4. Use multi-exit modeling: Price deals across multiple scenarios (secondary, continuation, dividend recap) from Day 1.

5. Communicate clearly with LPs: Monthly updates, exit horizon transparency, and milestone tracking are now must-haves.

✅ Final Take: M&A in 2025 Demands Better Timing and Better Tools

The M&A engine is restarting, but the playbook has evolved. Regulatory friction, legal exposure, and LP liquidity constraints make precision essential.

Success in 2025 will favor those who:

• Operate with real-time intelligence

• Execute across flexible structures

• Communicate exit potential early and often

Modern IR and corp dev teams are using Altss to bridge intelligence gaps, identify verified counterparties, and accelerate deal outcomes.

The opportunity is real—but it won’t wait. Build your M&A edge with Altss.