The volume of the M&A market with a threshold of $1 million in the third quarter of 2026 decreased significantly compared to the result of the same period last year. This is stated in the bulletin "Market of Mergers and Acquisitions" of the AK&M News Agency (issue No. 343).
The total value of transactions in the three reporting months decreased 1.4 times, amounting to $4.6 billion against $6.3 billion a year earlier. The number of transactions also decreased: 80 transactions took place in the reporting period, compared with 87 (-13.7%) a year earlier. In ruble terms, the amount of transactions in the quarter decreased 1.5 times. It amounted to 391.3 billion rubles against 587 billion rubles a year earlier.
During the period, AK&M analysts recorded only one major deal worth more than $ 1 billion — the acquisition of Russian assets in the chemical and petrochemical industry by the British Linde to pay off the debt for the failure of the deal on the construction of a gas processing plant in the Leningrad region. They were bought by Ruskhimalliance for an estimated $1402.5 million.
The second largest transaction took place in the construction and development sector, the acquisition of the Frame Business Center in Moscow from the PIK Group subsidiary for an estimated $331.6 million.
The third place was taken by the purchase of a retail chain: the combined company Wildberries and Russ acquired a controlling stake in Eaptek LLC for an estimated $250.4 million.
The price of realizable assets decreased: the average transaction cost, excluding the largest, fell by 41.9% to $40.4 million from $69.5 million (excluding the largest) in the same period of 2025.
In general, the volume of the M&A market from January to September 2026 amounted to $28.71 billion— which is 16.6% higher than the total of January-September 2025. The number of transactions for the period was 261 against 285 a year earlier.
The forced nationalization of private companies remains an important factor for the M&A market. In the first 9 months of 2026, AK&M analysts noted 19 such transactions worth $10.42 billion.
Recall that in the first half of 2026, the percentage of transactions made through nationalizations amounted to 42.2% of the value of all transactions in the first half of the year.
Read more about the results of the M&A market in issue No. 343 of the bulletin "Market of Mergers and Acquisitions" of the AK&M News Agency.
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