Street Talk

Australian deal-making has just had its best first half since 2021

Sarah Thompson, Kanika Sood and Emma Rapaport

Jul 17, 2025 – 5.00am

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Tariffs and volatility be damned, Australian deal-making is having its best start to the year since 2021.

Data from Bain & Co shows mergers and acquisitions deal value grew 97 per cent in the first half of 2025, compared with the first half of last year, hitting $US63 billion ($91.6 billion). Australia is also punching above its weight, exceeding global M&A deal value growth, which has grown by 23 per cent compared with 1H 2024.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.