高盛：2025年并购前瞻报告：全球市场蓄势待发（英文版）

For over a year, capital markets have sought clarity on two common bottlenecks for M&A: monetary policy and regulation. With these dynamics normalizing, a generational technology disrupting industries, sponsors seeking liquidity, and a growing desire from corporates to transform their portfolios through M&A, we expect significant upside potential for dealmaking next year—but with a healthy dose of volatility as capital markets navigate “known unknowns” in the form of tariffs, geopolit