PitchBook：2025年全球并购报告（英文版）

Global M&A activity reached new heights in 2025, setting records in both M&A count and value and surpassing 2021 as the most active year of M&A. Including estimates for latereporting and nondisclosed deals, there were 50,810 deals totaling nearly $5 trillion in what was a stronger-than-expected year despite disruptions by macroeconomic headwinds at the beginning. While market participants were optimistic going into 2025, the pace at which M&A activity forged ahead was surprisi