Trade policy uncertainty, geopolitical tension, volatile energy markets and an uneven interest-rate outlook have made dealmakers more exacting about where and how they commit capital.
Resilient earnings, cash conversion, strategic relevance and execution certainty now matter more than ambitious growth narratives alone.
Markets are moving at different speeds, yet the transactions most likely to progress share common features: realistic valuations, credible integration plans and structures that allocate risk sensibly.
An analysis of current market dynamics by Moore Global Corporate Finance (GCF) reveals the defining feature of the current market is selective conviction.
“We saw fewer deals complete in first half of 2026 but the average size rose, says John Cowie, chairman of Moore GCF. “Activity was focussed on engineering, facilities management, recruitment, media and IT services. If geopolitical stability returns, we would expect the second half of the year to unlock an increase in cross border M&A.”
Buyers and sellers do not need perfect visibility to act, but they do need a clear strategic rationale, credible evidence and certainty of execution.
In the current cycle, preparedness and discipline are likely to matter more than speed alone.
