EMEA’s M&A landscape in 2025 was defined by resilience. Dealmakers navigated tariff shocks, energy constraints, and uneven sector performance – where clarity, scale, and strategic focus outperformed broad‑based risk‑taking.

Despite geopolitical volatility and tight financing conditions, M&A value jumped 24.5% to nearly €1.2tn, even as volumes fell. The result: fewer, bigger, higher‑conviction deals, led by TMT, financial services, and I&C.

Explore the themes, forces, and standout transactions that shaped dealmaking across EMEA in 2025, sector by sector, including:

• Forward‑looking heat chart and pipeline analysis
• Deep dives across 7 sectors
• Top 10 deals per sector by value and volume
• Advisor league tables by value and volume

Download the latest Deal Drivers report for a sector-by-sector breakdown of the forces shaping M&A in 2025 and what they mean for the year ahead.