July 2026
Dealmakers
Mid-year pulse check
Mid-year Australian M&A saw a shift to larger deals, bolstered by continued overseas interest.
50% of deals
Australian resources driving activity
involved an overseas acquirer as attractive Australian assets head offshore
Australian mid-market
5 of the top 10 deals overall were in mining and oil and gas
Australian M&A
4% volume
-14% volume
1H26 deal volume (131) declined from 1H25 (136 deals)
1H26 deal volume (470) declined from 1H25 (548 deals)
6% value
25% value
1H26 deal value (approx. AU$8.86bn) decreased from 1H25 (approx. AU$9.44bn)
1,000
200
160,000
800
120,000
600
80,000
400
40,000
200
150 10,000 100 5,000
0
50
H1 H2 2020
H1 H2 2021
H1 H2 2022
H1 H2 2023
Deal value (AU$m)
H1 H2 2024
H1 H2 2025
0 H1 2026
Deal volume
0
H1 H2 2020
H1 H2 2021
H1 H2 2022
H1 H2 2023
Deal value (AU$m)
H1 H2 2024
H1 H2 2025
Deal volume
200,000
Deal value (AU$m)
15,000
250
Deal volume
Deal value (AU$m)
20,000
1H26 deal value (approx. AU$82.52bn) increased from 1H25 (approx. AU$66.28bn)
0 H1 2026
Deal volume
This document includes data derived from data provided under agreement with ION. ION retains and reserves all rights in such data.
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