Deals · Research note · 6 Oct 2026
Global M&A fell 41% to $993 billion in Q3 2026; nine-month value of $3.9 trillion is the highest since 2001
LSEG data reported by Reuters on 1 October 2026 put global announced M&A at $993 billion in the third quarter of 2026, down 41% on the second quarter. The nine-month total was $3.9 trillion, up 28% on a year earlier and the highest for the period since 2001. This note sets out the quarter's figures, the Treasury yield move that dealmakers cite, and the limits of data from one provider.
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Every number, and where it comes from
The first five figures in the note.
The full table has 14 rows. Each figure is as published on the date shown, with its denominator.
| Figure | What it measures | Source |
|---|---|---|
| $993 billion | Global announced M&A value, Q3 2026 (July to September), LSEG basis | LSEG data via Reuters, 1 Oct 2026 |
| -41% | Change in global announced M&A value, Q3 2026 against Q2 2026, as reported. Described in the note as two-fifths | LSEG data via Reuters, 1 Oct 2026 |
| Under $1 trillion | Q3 2026 is the first quarter of global announced M&A below $1 trillion since Q2 2025, as stated by Reuters | LSEG data via Reuters, 1 Oct 2026 |
| $3.9 trillion | Global announced M&A value, first nine months of 2026, up 28% on the first nine months of 2025; highest for the period since 2001. Applies to the nine-month period only | LSEG data via Reuters, 1 Oct 2026 |
| 25-year high | Span between 2001 and 2026 for the nine-month value comparison. Author's arithmetic: 2026 - 2001 = 25 years | Derived from Reuters, 1 Oct 2026 |
9 more figures in the PDF, each with its source.
Sources
8 primary releases.
- Reuters (Investing.com copy); data LSEG, Wire report on third-quarter 2026 global M&A (Investing.com copy) (1 October 2026)"So far this year worldwide M&A is up 28% to $3.9 trillion, the highest level in the period since 2001" "the 10 deals over $10 billion announced in the third quarter". As confirmed in the independent check, not quoted verbatim: third-quarter global M&A of $993 billion, down 41% on the prior quarter and the first quarter below $1 trillion since the second quarter of 2025; deal count down 8% to levels not seen since 2020; Asia Pacific M&A of $242 billion, up 8% on the second quarter and 36% on a year earlier, while US and European dealmaking fell sharply.investing.com
- Reuters (Global Banking & Finance Review copy); data LSEG, Wire report on third-quarter 2026 global M&A (Global Banking & Finance Review copy) (1 October 2026)"The benchmark 10-year US Treasury yield hit 5.34% on Thursday, its highest level since 2002" "We had an extraordinary Q2. Q3 is a normalization rather than an end of a cycle" (Sarah Jones, global head of corporate at Clifford Chance). The same copy confirms the 10 deals above $10 billion in the quarter, the lowest quarterly count since the fourth quarter of 2024.globalbankingandfinance.com
- Reuters (Cyprus Mail copy); data LSEG, Wire report on first-half 2026 global M&A (Cyprus Mail copy) (5 July 2026)As confirmed in the independent check, not quoted verbatim: 47 megadeals above $10 billion worth more than $1.3 trillion in the first half of 2026, and announced deal value of $2.8 trillion for the half. The piece refers to "announced deals".cyprus-mail.com
- Axios (Pro Rata); data LSEG, Newsletter item on third-quarter dealmaking (18 September 2026)Preliminary quarter-to-date data: "So far this quarter there only have been nine deals valued at $10 billion or more, compared to 27 such deals last quarter." The Q2 count of 27 is preliminary and is not used in this note.axios.com
- US Department of the Treasury, Daily Treasury Par Yield Curve Rates, September and October 2026 (Fetched 2 October 2026)Table values as read in the independent check: "10/01/2026 = 5.24; 09/30/2026 = 5.29" and "09/01 4.79, 09/15 5.00, 09/30 5.29".home.treasury.gov
- Quartz via Yahoo Finance, Markets report on the 10-year Treasury yield (1 October 2026)"The 10-year yield reached as high as 5.338% Thursday, its highest intraday level since April 2002"finance.yahoo.com
- Eurasia Business News, Markets report on the 10-year Treasury yield and stocks (1 October 2026)"The benchmark yield touched roughly 5.34% before retreating to 5.233%"eurasiabusinessnews.com
- Investrade, Market review, October 1, 2026 (1 October 2026)"around 5.34% (but ended around 5.24%)"investrade.com