Merger control and foreign investment hurdles contributed to a challenging 2024 for M&A. 2025 looks more promising, with pro-business agendas and regulatory easing in key jurisdictions expected to fuel a surge in dealmaking

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Read Time

8 mins

Published Date

Feb 27 2025

2024 presented significant challenges for dealmakers. Geopolitical uncertainty, a softer M&A market and a heightened risk of antitrust and foreign investment intervention all played a part. However, the outlook for 2025 is optimistic. Pro-business and growth-focused agendas in key jurisdictions are expected to lead to a more permissive regulatory environment.

This tenth edition of our global trends report delves into the trends and challenges shaping the merger control and foreign investment landscape and predicts what dealmakers should expect in the year ahead.

Summary

Antitrust authorities' unwillingness to accept merger remedies, novel concerns, and lengthy review periods led to a 50% rise in abandoned deals in 2024. Tech transactions, private equity and serial acquisitions faced intense scrutiny.

New and expanding foreign investment screening regimes, along with the EU Foreign Subsidies Regulation, presented significant hurdles for dealmakers.

New political leadership in key jurisdictions are focusing on removing barriers to growth and fostering a pro-business environment. This may mean a more permissive merger control environment, creating more paths to closing.

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