Deal Drivers: EMEA provides an in-depth review of M&A activity in 2025.

Big deals take center stage as volume plummets

EMEA M&A experienced a sharp contraction in Q1, with deal volume dropping to 3,092—a 34.2% year-on-year fall. This marks the lowest quarterly total in at least the past three years and reflects a steep falloff in transaction count after a stable 2024. Despite this downturn, aggregate M&A value held up comparatively well. This metric reached €242.6bn, up 22% from €198.8bn
a year earlier and broadly in line with the previous quarter.

Mega mergers

Of the five megadeals announced in Q1, the largest saw OMV and ADNOC merge their petrochemicals units, Borealis and Borouge, into a new global polyolefins leader. The equal-ownership combination creates a major player headquartered in Austria and listed in Abu Dhabi, pending regulatory approvals.

Regional outlook

In a break from the typical trend, it is the DACH region that leads with 412 ‘companies for sale’ stories as tracked by Mergermarket, with the UK & Ireland in second place with 380 stories.

Published in association with Datasite. The report is also available on datasite.com.