Global M&A Activity Surges Amid Geopolitical Tensions; French Firms Expand into U.S. Market

Global M&A Activity Surges Amid Geopolitical Tensions; French Firms Expand into U.S. Market

Despite heightened geopolitical tensions and renewed hostilities in regions like the Strait of Hormuz, the global mergers and acquisitions (M&A) market is experiencing a booming year with unprecedented deal-making activity. In July 2026 alone, major transactions were announced, including Uber’s €12.7 billion acquisition of Delivery Hero and ABB’s €4.7 billion purchase of Rotork. Other significant developments include a €46 billion bid for PayPal and fierce competition for easyJet.

Despite concerns about oil shocks and supply chain disruptions from geopolitical events, business leaders have adapted quickly, maintaining high deal momentum. The global M&A market surged 42% in the first half of 2026, reaching $2.9 trillion, with projections of hitting $6 trillion by year-end. Favorable conditions such as abundant funding, high stock valuations, and a more permissive regulatory environment, especially under the Trump administration, are accelerating consolidation.

Europe has also seen major deals, like Bouygues, Iliad, and Orange’s €20 billion bid for telecom operator SFR, and Kone’s €29 billion elevator industry move. France’s M&A volume rose 57%, led by major transactions in energy and telecom. Moving forward, sectors like defense, health, and finance remain active, with French firms aggressively expanding into the U.S. amidst electoral uncertainties at home.

“The fact that participants now feel more confident than before about the favorable stance of competition authorities clearly factored into their decision to take the risk of launching the deal,” he added.

Thanks particularly to this transaction, as well as Engie’s February acquisition of UK electricity distributor UK Power Networks for € … .

And the pace looks set to … “We are very active. Many … ,” said de Mont-Marin. “There are some attractive, large … ,” added Aucomte.

Investment funds, after a period … ).

And French multinationals such … “French companies are looking to grow … ,” Marrache said.

These acquisitions abroad allow French companies … “Historically, we often saw … ,” said de Mont-Marin.

In conclusion, the global M&A landscape is witnessing an unprecedented surge, with companies navigating geopolitical challenges to pursue strategic growth. French firms, in particular, are leveraging this momentum to expand into the U.S. market, signaling a robust and dynamic investment environment despite prevailing uncertainties.