01 / DEAL STRUCTURING
Ariel J. Snyder
Watching clients revisit valuations and prepare for new strategic opportunities as market conditions shift.
View bio ↗Contact2027 MERGERS & ACQUISITIONS OUTLOOK
See the signals.
Shape what’s next.
A sharper perspective on the forces moving M&A.
From the big picture to your next decision.
Two decades of perspective. One evolving market.
DYKEMA / M&A INTELLIGENCE2027 findings pending · 2026 fieldwork
01 / THE BIG PICTURE
The market, at a glance.
2025 SURVEY FINDINGS
Expectations for the following 12 months
2025 FINDING
See a stronger M&A market
Respondents expect U.S. dealmaking conditions to strengthen.
Market outlook ↗2025 FINDING
Anticipate an acquisition
At their company or a portfolio company.
Transaction activity ↗2025 FINDING
Expect PE to fuel volume
Private equity remains a key force in deal activity.
Private equity outlook ↗2025 FINDING
Put AI adoption first
As their leading priority for creating value.
Shifting strategy ↗02 / YEAR OVER YEAR
The shift
in dealmaking.
More respondents anticipated transactions in 2025 than in 2024. Acquisitions showed the largest increase of these three deal types.
Read the analysis ↗+8pp
Increase in respondents
anticipating an acquisition
Survey expectations, not completed transaction volumes.
Expected transaction activity
● 2024● 2025
Share of respondents · Scale: 0–100% · Source: Dykema 2025 survey
03 / A CLOSER LOOK
Every sector.
A different story.
Industry analysis
Explore eight sector perspectives from the 2025 survey.
SECTOR PERSPECTIVE / 2025
Healthcare
Explore the analysis
SECTOR PERSPECTIVE / 2025
Energy & Natural Resources
Explore the analysis
SECTOR PERSPECTIVE / 2025
Automotive
Explore the analysis
SECTOR PERSPECTIVE / 2025
Industrial & Manufacturing
Explore the analysis
SECTOR PERSPECTIVE / 2025
Cannabis
Explore the analysis
SECTOR PERSPECTIVE / 2025
Dental Service Organizations
Explore the analysis
SECTOR PERSPECTIVE / 2025
Veterinary Service Organizations
Explore the analysis
SECTOR PERSPECTIVE / 2025
Financial Services
Explore the analysis
04 / THE LONG VIEW
Markets move.
Perspective endures.
Explore the history behind the survey in Dykema’s retrospective film.
Published retrospective through 2024. An updated film and multi-year findings are pending.
THE DYKEMA RETROSPECTIVE20 YEARS OF M&A
In retrospect: 20 years of M&A Outlook Open video ↗
05 / WHAT OUR ATTORNEYS ARE WATCHING
Beyond the numbers.
2025 PUBLISHED PERSPECTIVES
Summarized below
02 / PRIVATE EQUITY
Igli Psari
Watching how operational improvements and digital scale create opportunities for private equity investors.
View bio ↗Contact06 / CONTINUE THE CONVERSATION
Your next move
starts here.
Explore the research behind the findings.
Survey methodology 2025 sample content
The 2025 survey gathered 216 responses in August and September from business leaders and M&A professionals. Responses were anonymous and analyzed in aggregate. Automotive, healthcare, and energy respondents were deliberately oversampled for sector comparisons. Read the complete methodology ↗