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U.S. Mergers & Acquisitions Monthly Review: September 2026

Companies and Markets

By FactSet Insight  |  October 20, 2026

U.S. M&A deal activity decreased in September, going down 1.7% with 1,201 announcements compared to 1,222 in August. Aggregate M&A spending decreased as well. In September 27.5% less was spent on deals compared to August.

In terms of M&A deal activity, 7 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: Producer Manufacturing (210 vs. 185), Retail Trade (111 vs. 87), Distribution Services (144 vs. 121), Electronic Technology (98 vs. 77), and Miscellaneous (27 vs. 18).

On the other hand, 13 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: Finance (726 vs. 996), Technology Services (799 vs. 883), Consumer Services (220 vs. 282), Non-Energy Minerals (79 vs. 105) and Health Services (96 vs. 121).

Topping the list of the largest deals announced in September are: NVIDIA Corp’s agreement to acquire Hugging Face Inc. for $11.9 billion; GE Aerospace entering into agreement to acquire Consolidated Precision Products Corp, a portfolio company of Warburg Pincus LLC and Berkshire Partners LLC, for $11.8 billion; Advanced Micro Devices agreeing to acquire World Labs Technologies Inc. for $8.2 billion; Sequence AI Holdings Inc. and DFO Management’s agreement to acquire The Baldwin Insurance Group Inc. for $4.6 billion; Flex Ltd agreeing to acquire EPC Power Corp, a portfolio company of Goldman Sachs Asset Management LP and Cleanhill Partners, for $4.4 billion.  

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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.

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The information contained in this article is not 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.