Controlling mergers and acquisitions to foster growth, protect competition

Abstract

Mergers and acquisitions (M&A) have long served as a mechanism for corporate growth, restructuring and adaptation to changing market conditions. These transactions tend to move in periodic cycles, often reflecting broader economic trends, regulatory environments and strategic priorities within industries. For example, the current M&A landscape is being shaped by several key factors. Central banks in major economies – including the US Federal Reserve, the European Central Bank and the Bank of England – implemented interest rate cuts in 2024, with some introducing further reductions in 2025. Additional cuts are anticipated, albeit at varying paces, lowering borrowing costs and making debt-financed deals more attractive, particularly in capital-intensive sectors. Yet, while some sectors and regions have seen a positive momentum in global M&A and investment activity, others have slowed under the weight of economic uncertainty and geopolitical tensions. [excerpt]