Goldman Sachs Predicts Continued M&A Boom into 2026

Goldman Sachs Chief Financial Officer Denis Coleman projects that the robust momentum in mergers and acquisitions (M&A) observed in 2025 will persist into 2026, positioning this year as potentially the second-largest in history for announced M&A deals.

Speaking at the Goldman Sachs U.S. Financial Services Conference on December 9, 2025, Coleman attributed this surge to a resilient U.S. economy, lower financing costs, and heightened corporate confidence. He highlighted a 40% increase in financial sponsor-led deals and a resurgence in large initial public offerings (IPOs) as key drivers. Goldman Sachs has been instrumental in this environment, advising on significant transactions such as Electronic Arts' $55 billion take-private acquisition, which earned the firm a record $110 million in advisory fees.

The M&A surge in 2025 is part of a broader trend, with 63 megadeals (worth $10 billion or more) announced, surpassing the previous high set in 2015. Other financial institutions, such as JPMorgan Chase and Citigroup, have also reported increased investment banking revenues and anticipate continued M&A activity into 2026.

The robust M&A activity reflects corporate confidence and economic resilience, potentially leading to job creation and market expansion. However, such large-scale consolidations may raise concerns about market competition and regulatory scrutiny.

As of December 10, 2025, Goldman Sachs Group, Inc. (GS) shares are trading at $879.40, reflecting a slight increase from the previous close.

In summary, the current M&A landscape, bolstered by favorable economic conditions and corporate confidence, presents significant opportunities for financial institutions like Goldman Sachs. However, it also necessitates careful consideration of regulatory implications and market competition dynamics.