“We’re about year three” in a seven-year M&A cycle that will see 2026 and 2027 sustain the astonishing deal growth seen this past 12 months. That’s the bold claim of Liz Claydon, global head of deal advisory and global sector lead for Life Sciences at KPMG. In this week’s Dealcast, Claydon joins Lucinda Guthrie, global executive editor at Mergermarket, to discuss how global CEOs have adjusted to technological and geopolitical disruption by seizing the opportunity to reshape their corporate footprints via transformational M&A.

At USD 4.81tn, 2025’s global M&A haul has been underpinned by 70 megadeals worth more than USD 10bn. Claydon and Guthrie unpack how trade tensions have kicked off a race for pureplay scale – and explore the extent to which AI is not only driving deal planning, but also value creation execution.

Taking in Jared Kushner’s flight from the Warner Bros. Discovery tussle, amid the biggest haul of North American listed dealmaking since 2007; the M&A financing environment in a world of rich valuations; and shifting investor sentiment towards inbound China dealmaking, this episode is a one-stop-shop for practitioners window dressing before year-end – and running the rule on next year’s pipeline.

Reuben Miller, Mergermarket’s global chief regulatory editor, joins Dealcast host Julie-Anna Needham to discuss the complexities of Paramount's bid, which is one of the largest hostile deals on record.

• How could Paramount's attorney could prove instrumental in pushing its bid forward?
• How could Netflix improve its regulatory position?
• Whoever wins, what will be the impact on the media landscape and everyday consumers?

All this and more in this week’s Dealcast.

Patrick Harris, Mergermarket’s senior editor based in London, joins Dealcast host Julie-Anna Needham to discuss the complexities of the deal, including:

• Where the new Anglo Teck company could be domiciled and how that will be reconciled with each company’s strong national ties;
• How the Canadian government could push for more stipulations for the deal, like Canadian investment and job creation;
• Which other large mining strategics could be possible acquirers of the new entity from Rio Tinto to Glencore and how the merger itself may be a defensive move on Anglo American's part;
• Whether Anglo American's ongoing disposals could potentially impact the deal.

All this and more in this week’s Dealcast.

Justin Niessner, Associate Editor of the AVCJ, joins Dealcast host Julie-Anna Needham to discuss this year’s forum and its key takeaways, including:

• Which countries, like Japan and India, are seeing the most investor interest
• What makes Asia compelling to investors – including factors like increased urbanization, digitalization, and the rise of the middle class
• Which firms are investing in Asia, like KKR’s recent purchase of China-based Dayao Beverages
• What macro themes are encompassing the region from ESG and the impact of US tariffs to AI

All this and more in this week’s Dealcast.

In this week’s episode of Dealcast, Mergermarket Global Commentary Editor John West sits down with London-based BCLP private equity partner Perry Yam to unpack the Budget’s impact on the British sponsor scene.

Sam Kerr, Mergermarket’s global ECM editor and head of Mergermarket in EMEA, joins Dealcast host Julie-Anna Needham to discuss the global ECM outlook, including:

• Why the end of the US government shutdown may not lead to a flurry of new listings, potentially forcing IPOs to 1Q26;
• How the US markets have performed and which listings haven’t been able to maintain their outsized pops from their IPO date;
• How companies are faring on the LSE, including Shawbrook, Beauty Tech, and Princes, and what the signaling about the country's budget could mean;
• How the potential AI bubble could impact markets worldwide.

All this and more in this week’s Dealcast.

Arezki Yaiche, Mergermarket’s France-based bureau chief, joins Dealcast host Julie-Anna Needham to discuss the French political situation and its impact on the business community, including:

• How the political turmoil began when President Emmanuel Macron called a snap election in 2024 and why it has persisted;
• What items could be up for debate in the budget, like a possible end to an R&D tax rebate that has encouraged family offices and other investors to fund tech companies;
• How the instability is impacting France’s credit rating and foreign investor sentiment;
• Which unicorns stand out amid the chaos, like Mistral AI, and why particular industries may continue to perform well.

All this and more in this week’s Dealcast.

John West, Mergermarket’s global commentary editor and author of our weekly Continental Drift column, joins Dealcast host Julie-Anna Needham to discuss how corporates can navigate the new trade realities, along with other macroeconomic risks and opportunities.

• What is the real impact of First Brands and Tricolor on capital markets pipelines?
• How strong are the parallels between the boom in AI investment and the dotcom bubble?
• Could M&A financing become more expensive even if the Federal Reserve cuts rates?

All this and more in this week’s Dealcast.

Reuben Miller, Mergermarket’s global chief regulatory editor, joins Dealcast host Julie-Anna Needham to discuss why the antitrust review of the deal is likely to be relatively straightforward, despite the risks from other processes.

• Could China seek concessions from the Trump administration in the midst of the ongoing trade war?
• Will the Committee on Foreign Investment in the US give PIF an easy ride given the involvement of Trump’s family?
• Could regulators seek a data firewall to prevent PIF gaining full access to information on EA’s gamers?

All this and more in this week’s Dealcast.

Carlos Martinez, Mergermarket’s energy editor in the Americas, joins Dealcast host Julie-Anna Needham to discuss the energy landscape including:

• Which sponsors are investing in a wider range of energy assets, like BlackRock’s recent agreement to purchase utility company AES for USD 38bn
• Why the changing approach to utilities investments may spark state-level policy pushback in the US
• Why more renewable energy-focused investors may begin to look toward opportunities in Canada
• How strategics are circling energy investments by funding plants and entering into power purchase agreements

All this and more in this week’s Dealcast.