Welcome to the quarterly M&A update for 2021. This Quarter Report analyzes data from the third quarter of 2021.

North America M&A activity continued its bull run in the third quarter of 2021. More than 4,600 deals closed for a combined $708.3 billion transaction value in the quarter, setting both deal count and value on track to exceed the previous annual record. As of September 30, an estimated 12,855 deals have been completed in 2021 for a total value of $1,863.9 billion. This is an increase of $802.4 billion in deal value recorded for the same period in 2020.