SI Global：2025年全球并购市场洞察报告（英文版）

In our last report, using data up to Q3 2024, we saw strong signs of recovery following a year of uncertainty in 2023. Many companies had used 2023 as a period of consolidation and balance sheet repair amid elevated financing costs. As market conditions eased in 2024 we believed the up-tick in M&A activity would continue into 2025. And 2025 began on a strong footing with renewed buyer confidence and improved access to financing. However, the momentum was curtailed in Q2 as macroeconomic c