Reports are emerging about mergers and acquisitions in 2025 and trends expected for 2026. Various firms, including Deloitte, Norton Rose Fulbright, and Morgan Stanley, have released reports on global M&A trends, risks, and outlooks for the new year. The reports appear to cover different aspects of M&A, such as life sciences, technology, and deal trends, but a unified view of the trends and expectations for 2026 is not clear.