INTRODUCTION
The growth case for transatlantic M&A
Cross-border M&A can bring capital, capability, and growth to the economies where deals take place. However, it is harder to measure the scale of that wider economic contribution.
That question is becoming more important as governments balance national strategic interests against the benefits of international investment.
For the U.K., the stakes are high. As the government develops its growth agenda ahead of the U.K. October 2026 Budget, and as the Competition and Markets Authority (CMA) focuses on its new strategic mandate to foster economic growth and investment activity, cross-border investment has an important role to play.
Transatlantic M&A is already bringing significant capital into the U.K. In 2025, U.S. companies spent GBP37.8B acquiring U.K. companies, up 250% from 2024. Meanwhile, U.S. private capital funds are sitting on around USD1.1T of dry powder, with many European assets in their sights.
The Deal Dividend examines what is driving this investment. Valuation mismatches are only part of the story. The ability to access new customers and new technology is the real drive behind transatlantic dealmaking.
We’ve combined economic modeling of U.S.–U.K. M&A with a survey of 811 M&A decision-makers across the U.K., U.S., the Middle East, and Europe to measure the wider value of these deals—and identify what the transatlantic corridor needs to keep flourishing.
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