The Year Is Off to the Strongest Start for Big Deals Ever

Global corporate dealmaking hit a record start to 2026, with 22 transactions of $10 billion or more announced in the first quarter — the strongest quarterly showing on record. Big-ticket deals cited include Unilever’s plan to combine its food business with McCormick in a transaction of more than $65 billion (including debt) and Sysco’s agreement to buy Jetro Restaurant Depot for over $29 billion (including debt). The activity comes despite geopolitical risk (the Iran war) and weak stock performance, signaling that corporate strategics and private-capital buyers are proceeding on long-term fundamentals. For markets such as the S&P 500, robust M&A can support valuations, boost deal-driven earnings accretion, and indicate corporate confidence even amid macro uncertainty.