1、MERGERS AND ACQUISITIONSRegional PerspectivesThe 2025 M&A ReportARTICLE OCTOBER 28,2025 15 MIN READThe global M&A market remained volatile during the first nine months of 2025,with recoveryprogressing unevenly across regions.While BCGs M&A Sentiment Index has recently trendedupward in most sectors,o

2、ngoing geopolitical tensions,shiing regulations,and macroeconomicuncertainty continue to influence dealmaking conditions.Some dealmakers have hit pause in response.But many others are moving forward,anchoringdeals in clearer theses and distinctive capabilities.Oen,this includes a sharper regional fo

3、cus,which provides some insulation from global volatility.To better understand these dynamics,BCG asked experts in ten regions to describe the currentstate of their M&A markets and share insights on recent trends and near-term drivers of dealactivity.Here are their perspectives:The Africa Perspectiv

4、e by Seddik ElFihriThe Australia and New Zealand Perspective byJared FeigerThe Brazil Perspective by LucasGarridoThe Germany Perspective by Jens KengelbachThe India Perspective by Dhruv ShahThe Japan Perspective by Takashi YokotakiThe Middle East Perspective bySamuele BellaniThe Southeast Asia Persp

5、ective by AnantShivrajThe UK Perspective by Edward Gore-RandallThe US Perspective by Lianne PotThe Africa Perspective2025 Boston Consulting Group1Seddik El FihriManaging Director&PartnerCasablancaAfricas M&A market has struggled to maintain momentum in 2025 against a backdrop of globalvolatility and

6、 domestic challenges.Despite a modest recovery from the COVID-19 pandemic shock,deal activity has continued to trend downward.Both deal volume and deal value declined duringthe first nine months of the year,diverging from the modest rebound seen globally.Limited large-scale transactions,dependence o