U.S. Mergers & Acquisitions Monthly Review: August 2025

U.S. M&A deal activity decreased in August, going down 15% with 956 announcements compared to 1,125 in July. Aggregate M&A spending decreased as well. In August, 35.1% less was spent on deals compared to July.

In terms of M&A deal activity, 6 of the 21 sectors tracked by FactSet saw an increase in M&A deal activity over the past three months relative to the same three-month period one year ago. The five sectors that witnessed the largest increases in M&A deal volume were: Technology Services (744 vs. 701), Electronic Technology (89 vs. 64), Producer Manufacturing (181 vs. 165), Transportation (74 vs. 60) and Non-Energy Minerals (74 vs. 60).

On the other hand, 14 of the 21 sectors tracked by FactSet saw a decrease in M&A deal activity over the past three months relative to the same three-month period one year ago. The five sectors that witnessed the largest declines in M&A deal volume were: Finance (595 vs. 682), Distribution Services (102 vs. 160), Producer Manufacturing (177 vs. 211), Retail Trade (66 vs. 91) and Health Services (83 vs. 104).

Topping the list of the largest deals announced in August are: Keurig Dr Pepper, Inc.'s agreement to acquire JDE Peet's NV for $18.1 billion; Black Hills Corp. agreeing to acquire NorthWestern Energy Group, Inc. for $3.6 billion; Nexstar Media Group, Inc. entering an agreement to acquire TEGNA, Inc. for $3.5 billion; FG Merger II Corp.'s deal to acquire Boxabl, Inc. for $3.5 billion; Gildan Activewear, Inc.'s agreement to acquire Hanesbrands, Inc. for $2 billion. 

This blog post is for informational purposes only. The information contained in this blog post is not legal, tax, or investment advice. FactSet does not endorse or recommend any investments and assumes no liability for any consequence relating directly or indirectly to any action or inaction taken based on the information contained in this article.