While every M&A lawyer, banker or corporate development professional knows that a $200 million carve-out M&A transaction or joint venture formation can often present even more complexity in structuring and negotiation than a $20 billion U.S. all-cash public M&A transaction, there are several factors unique to mega-deals that need to remain top of mind when embarking on an M&A transaction at sizes above $10 billion, which saw a significant increase in the third quarter of 2025.

Speed of Execution: Leak risk is always a primary concern for any M&A transaction, but the stakes are often much higher for large public companies evaluating a mega-deal. These transactions are by definition transformative and often represent the culmination of the strategy crafted by the management team that will instantly receive widespread public attention. As a result, everyone involved must be prepared to move twice as fast once a decision has been made to get to a signing and announcement. Advance preparation across all possible fronts (e.g., due diligence, financial modeling, arrangement of financing, communications) is the only way to allow these deals to happen so quickly. For outside advisors, the premium is on bringing every resource to bear to quickly get to a signing, rather than a focus on efficiency and fees due to the size of the transaction.