Global M&A deal value hits 5-year high on AI, energy surge, Samil PwC says

Samil PwC's outlook report for the second-half 2026 M&A market [Samil PwC]

The global mergers and acquisitions market is entering a new growth phase as AI accelerates the restructuring of industries worldwide. The trend reflects what analysts are calling a "structural recovery" — not a temporary uptick driven by economic conditions, but a fundamental shift in which AI reshapes corporate competitiveness and industrial architecture, generating new demand for deals.

Samil PwC published its "Second-Half 2026 M&A Market Outlook" report Thursday, analyzing global and domestic M&A trends in the first half of this year and laying out investment flows by sector alongside a second-half forecast.

The number of global M&A transactions in the first half fell 10 percent year-on-year to 20,835 deals, but total deal value surged 42 percent to $2 trillion, driven by large transactions aimed at securing AI capabilities. Mega deals valued at $5 billion or more accounted for 40 percent of total deal value, while mid- and small-sized transactions lagged, deepening polarization across asset classes.

South Korea's M&A market held steady in deal count at 718 transactions over the same period, while deal value climbed 27 percent to $26 billion, signaling a recovery. The increase was driven by corporate portfolio restructuring, rising demand for business reorganization and strategic transactions to secure future growth engines.

The report projects that mega deals centered on AI, energy and infrastructure will continue in the second half, pushing full-year global M&A deal value to around $4 trillion — the highest level in five years since 2021. Data centers, power grids, semiconductors and network infrastructure are expected to emerge as the primary investment destinations.

In the domestic market, the government's planned National Growth Fund worth 200 trillion won ($140 billion) is seen as a key catalyst. By channeling investment into national strategic industries such as AI, semiconductors and robotics, the fund is expected to create more stable financing conditions than those available in global markets, giving a positive boost to M&A activity in South Korea.

Min Jun-seon, head of Samil PwC's deals practice, said the second-half M&A market is not simply a recovery phase marked by higher transaction volumes, but a period in which competition to secure strategic assets is intensifying as AI reshapes industrial structures. "Given how rapidly technology is changing, companies need to recalibrate their investment priorities around future growth potential and business synergies — rather than scale alone — and make active use of strategic M&A," he said.

Meanwhile, Samil PwC — which operates on a June fiscal year — posted sales of 1.11 trillion won for the fiscal year ended June 2025, up about 8.4 percent from the prior year. Operating profit for the same period jumped 55.6 percent year-on-year to about 25.4 billion won, reflecting both top-line growth and improved profitability.

an@heraldcorp.com