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Global mergers and acquisitions (M&A) reached a record $2.8 trillion in announced deals during the first half of 2026, marking a 48% increase compared to the same period last year, according to LSEG data. The surge was largely driven by 47 mega-deals valued at over $10 billion each, which together accounted for more than $1.3 trillion in transactions. Despite the record value, the total number of deals fell 9% to around 24,000, the lowest level in six years.

Investment bankers say companies are taking advantage of improved regulatory conditions, strong financing availability, and growing investor preference for larger, more focused businesses. High-profile transactions, including NextEra Energy’s acquisition of Dominion Energy and SpaceX’s purchase of Cursor, reflected the increasing appetite for transformational deals. Analysts believe many companies are now pursuing long-planned acquisitions to strengthen their competitive position and drive future growth.

Technology remained the most active sector, recording $649 billion in announced deals, with artificial intelligence and infrastructure-related industries attracting strong interest. Cross-border M&A activity also rose 62% year-on-year to $893 billion, led by transactions involving the United States and the United Kingdom. Experts expect dealmaking momentum to continue through the rest of 2026 as companies seek expansion, strategic partnerships, and business restructuring opportunities.

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Tesla Inc., led by Elon Musk, likely saved hundreds of millions in U.S. taxes through offshore financial arrangements, despite Musk’s public criticism of tax loopholes. A review of corporate filings suggests the company shifted around $18 billion in profits to subsidiaries in the Netherlands and Singapore, reducing its U.S. tax burden by at least $400 million.

Experts say these overseas entities likely acted as conduits for profit shifting, a common strategy where companies move earnings to low-tax jurisdictions. The arrangement appears linked to transferring intellectual property rights abroad, allowing profits that would normally be taxed in the United States to be recorded elsewhere. While such practices are legal, they remain controversial and widely debated in global tax policy.

The findings contrast with Musk’s earlier remarks dismissing tax avoidance schemes as “shady.” Although there is no evidence Tesla broke any laws, the case highlights how multinational corporations use complex structures to minimize taxes. Recent filings hint the company may have adjusted its offshore setup, but the financial benefits from past arrangements are expected to remain significant.

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