2025 M&A Report

• Stephanie Evans
• 2.12.2025

Note From the Editor

This year’s M&A Report offers a detailed review of the M&A market and outlook, including a breakdown by various geographies and industry sectors. We examine what might be in store with antitrust and CFIUS under the Trump Administration, common purchase price adjustments in financial services transactions, and common takeover defenses.

We also look at considerations in conducting “dual track” M&A and IPO processes and the challenges associated with pursuing pre-IPO acquisitions. Finally, we review trends in VC-backed company M&A deal terms.

The following information is a snapshot of this year’s report, we invite you to read the full report and our forthcoming IPO and Venture Capital Reports. Please stay in touch with us by subscribing to Material: WilmerHale’s M&A blog and our mailing lists so you can stay up to date on the latest developments related to M&A.

— Joseph B. Conahan, Partner and Co-Chair, Mergers and Acquisitions Practice