By: Samuel C. Thompson, Jr.*
Introductory Note
This Article is based on the “Recent Data” sections of the book entitled Mergers, Acquisitions and Tender Offers: Law and Strategies — Corporate, Securities, Taxation, Antitrust, Cross-Border (Second Edition) (“MATO”). The author of the book is Penn State Dickinson Law Professor Samuel C. Thompson, Jr. The book is published by the Practising Law Institute (PLI), and this Article is published with the permission of PLI.
MATO has six volumes and focuses on a range of M&A issues, including corporate, securities, antitrust, federal and state taxation, cross-border, regulatory, and valuation. The book is updated twice annually, and this Article is based on the sections of chapter 1 that focus on an analysis of the developments in the M&A marketplace through December 2024, which was principally prepared in May of 2025. In addition, this article discusses some of the 2025 developments, but data relating to many of the 2025 developments have not been published or finalized as of the writing of this article in January 2026. Thus, a more complete discussion of the 2025 developments will be included in the updated Chapter 1, which will be available in early Summer of 2026.
In addressing significant new 2025-2026 developments, section 1:7.42 discusses the Trump Administration’s approach to Tariffs; and section 1:7.43 addresses some non-tariff developments in both the Trump and Biden Administrations.
The last substantive sections of this article are (1) section 1:7.44, which provides a January 2026 Preliminary Report on M&A Activity in 2025; and (2) section 1:7.45, which presents a January 2026 Projection of M&A Activity in 2026.
The numbering system in this Article is based on the numbering system of the New Developments section of chapter 1 of the MATO book, with section 1:7.4 providing an introduction to sections 1:7.5 through 1:7.45, which address different substantive concepts in M&A. Finally, section 1:7.46 provides a guide to some of the literature addressing M&A.
* Arthur Weiss Distinguished Faculty Scholar, Professor of Law, and Director, Center for the Study of Mergers & Acquisitions, Penn State Dickinson Law.
Suggested Citation: Samuel C. Thompson, Jr., Summary of New Developments in the M&A Marketplace as of December 31, 2024, with [1] Comments on 2025 Developments, and [2] Projections on Potential 2026 Developments, 130 Penn St. L. Rev. Penn Statim 109 (2026).