贝恩：2025年全球并购市场报告领导者如何适应时代变化报告（英文版）

Ultimately, none of the macroeconomic tailwinds that M&A practitioners had hoped for during the first 11 months of 2024 ever really happened as expected. Overall, the level of M&A activity was a middling $3.5 trillion, a number consistent with what we saw in the mid-2010s. The headwinds largely stayed in place. For example, interest rates did come down just enough to reignite interest by private equity and other financial investors as that class began to regain ground with a 29% i