Merger activity, deal valuations, IPO performance, private equity and corporate finance trends in 2026.
How to read a merger announcement, using Boston Scientific and Penumbra in 2026: the premium, cash and stock terms, approvals, deadlines and break fees.
Corporate bond issuance in 2026 reached $1.9 trillion through August, up 29.8%, while investment-grade spreads held near 0.78 point as Treasury yields rose.
Merger arbitrage spreads on pending 2026 mega-deals range from 1.6% to 14.9%, with the widest gaps where regulators or courts will decide the outcome.
Private equity in 2026 is doing fewer deals at lower multiples: take-privates priced near 11.6 times EBITDA as tech buyouts halved and exits rose.
Buybacks vs dividends in 2026: buybacks still lead at about 61% of cash returned, but growth has stalled as Alphabet and Meta paused repurchases.
Private credit in 2026 is a $1.4 trillion US market; non-accruals are rising and fund outflows have started, while banks finance the lenders.
The SpaceX IPO priced at $135, rose 19.2% on day one and valued the company near 95 times revenue, then ended July about 20% below the offer.
The 2026 IPO market raised about $114.7 billion in the first half, led by SpaceX, but aftermarket returns have been uneven for the largest listings.
M&A in the first half of 2026 hit a record $2.8 to $3.16 trillion as deal counts fell, led by technology, utilities and pharmaceutical deals.
The GigaAI Hong Kong IPO had not been filed as of September 2026, with a debut now reported for 2027, while HKEX IPOs raised HK$342.4 billion in eight months.
The largest US acquisitions of 2026 so far were mostly paid in stock, while cash buyers paid from 5.6 to 68 times EBITDA for their targets.
After the SpaceX IPO, buying at the $150 day one open lost 0.9% through September 25, 2026, while waiting 60 days would have gained 11.5%.