New Deloitte M&A Trends Pulse Survey: Corporate and Private Equity (PE) Leaders Signal Cautious Optimism for Deal Activity in 2026, With Cross-border Acquisitions Offering Path for Growth

Sixty-five percent of dealmakers expect cross-border activity to increase in the next 12 months; with growth and capability expansion as leading motivators

NEW YORK, June 9, 2026 /PRNewswire/ -- As part of its "M&A Trends Survey" series, Deloitte has introduced a new Pulse Survey capturing insights from 500 corporate and PE leaders about their recent experiences with M&A activity, expectations for the next six months, along with a special focus on cross-border transaction sentiment and intentions.

"Our new M&A Pulse Survey indicates cautious optimism is persisting in the market, and while dealmakers are still leaning in, they're doing so with more discipline," said Adam Reilly, national managing partner, merger and acquisition services, Deloitte.  "Cross-border activity tells a similar story: interest is strong, but realizing value will depend on managing execution risks — particularly around compliance, supply chain, tax and revenue synergy capture," he added.

Key findings:

• Cautious optimism continues in the market. Sixty-seven percent of dealmakers expect the number of deals they close to increase over the next six months; 69% expect aggregate deal value to rise.
• Amid ongoing volatility expectations are measured, with respondents showing a 19-point drop in deal volume expectations for "increase somewhat" from when asked in fall of 2025 (67% to 48%). Further, more dealmakers indicated they expect to stay the course ("stay the same") in their M&A activity. 
• The same dealmaker caution trend is evident with cross-border deals, with only 20% of survey respondents reporting "significant interest" in pursuing such transactions in the months ahead while 35% were more neutral or even pessimistic (anticipating no change or a decline in their organizations' cross-border dealmaking in the next 12 months). 
• Yet, cross-border remains an important lever for growth. Growth and expansion were the most frequently mentioned strategic motivations for cross-border activity with 75% citing this goal as a high or medium priority, followed by financial optimization (65%) and risk diversification (60%). 
• The United Kingdom came in as the top market for corporate and PE leaders exploring foreign expansion (52% and 43%).

The "tale of two markets" value-realization opportunity identified in the second half of 2025 remains evident in 2026, with the 10 largest deals accounting for 43% of total value in Q1. For M&A leaders, the implications are clear: while volatility and macro headwinds may prompt some organizations to pause or proceed more cautiously, opportunity remains for those prepared to act with discipline. In today's environment, uncertainty can create openings — both domestically and internationally — for dealmakers focused on execution, risk management, and long-term value creation.

Read Deloitte's midyear "M&A Trends Pulse Survey" here.

About the survey
Along with macroeconomic and M&A market data analyzed, a new survey of 500 senior corporate and private equity M&A leaders was conducted online by an independent research firm in April 2026. Respondents included participants who work either for private or public companies with revenues in excess of US$250 million, or for private equity firms. All respondents indicated they have personal involvement with their respective firm's M&A activities. The corporate respondents represent a variety of industries, including technology, media and telecom; consumer; energy and resources; financial services; and life sciences and healthcare. 

About Deloitte
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SOURCE Deloitte