The market insights that should be informing boards decisions this quarter

Whether your board is approving a deal, preparing to respond to one, or is simply trying to understand the risk landscape, dealmaking trends shape the context in which governance decisions are made.

The latest Deal Drivers report published by Datasite and Mergermarket looks at the emerging trends offset by geopolitical equations and economic upheavals that are driving M&A in the major regions. 

For boards, it’s an essential briefing: These shifts may not be on your agenda yet, but they should help shape conversations around growth, resilience, and strategy in your next meeting.

Fresh insights to shape governance around the globe 

Each region tells its own story, and each one offers useful context for boardroom conversations. From shifting risk appetites to sector standouts, here’s a high-level view of what’s moving the M&A dial across the globe.

EMEA

Europe’s declining inflation has not yet translated into stronger M&A appetite. Q1 saw deal volume fall 34.2% year-on-year to 3,092, again, the lowest tally in over three years. 

However, deal value rose 22% to €242.6bn, suggesting that while boards are cautious, those moving forward are doing so with larger, more decisive bets. TMT remained the most active sector despite volume declines, followed by business services and industrials & chemicals. Meanwhile, strategic investment from the Middle East, up 120% last year, continues to buoy European M&A, helping to counterbalance more tentative domestic activity.

Americas

Deal activity across the Americas slowed in Q1, as newly announced US tariffs weighed on confidence and complicated monetary policy decisions. 

Deal volume dropped 27.7% year-on-year to 2,657, with total value declining to US$540bn, the lowest transaction count in at least three years. A small number of large deals, including Alphabet’s US$32bn acquisition of cloud security firm Wiz, masked the broader softness in the market. The Northeastern US remains a hub of activity, particularly across technology, media & telecoms (TMT) and biotech, with nearly a third of tracked sale stories emerging from this region.

APAC

Asia-Pacific saw a surge in deal value, up 87.9% year-on-year to US$276bn, driven almost entirely by a handful of major transactions involving Chinese state-owned enterprises. At the same time, deal volume fell 12% to 2,316, the region’s lowest since Q3 2022. Japan drew fresh attention from international private equity, thanks to a favourable regulatory environment and weak yen. 

Southeast Asia and India also showed momentum, with India’s TMT sector in particular reflecting a fast-growing tech economy. Financial services led the region in deal value, with US$90.5bn in transactions. The industrials and chemicals sector remains a focus in Greater China, reinforcing the country’s push for domestic self-sufficiency.

Learn more about the latest dealmaking trends on Datasite’s Deal Drivers Hub.

Why this matters for your board

Behind every deal count, value shift, or policy change sits a boardroom, making the calls, weighing the risks, and chasing the upside.

The Q1 2025 M&A picture is more than a market summary. It’s a reflection of how leadership teams are navigating ambiguity, and a cue for boards everywhere to sharpen their tools.

At Sherpany, we believe excellent meetings make excellent decisions possible. 

Whether you’re considering an acquisition, or are simply managing risks and shaping strategy, your board’s ability to meet effectively and take timely, informed decisions is what will drive success. 

If you’d like to learn more about how Sherpany delivers timely insights and alignment in governance and leadership, book a free demo today.