Top 10 Largest Global Merger & Acquisition Deals – February 2026
The M&A momentum continued in February with several large strategic deals across energy, telecom, finance, infrastructure, biotech, and technology — signaling continued consolidation and large-scale capital deployment.
Large deals announced during the month demonstrate how companies and investors are investing to strengthen market position, scale operations, and expand into new areas such as AI, digital infrastructure, and energy transition.
Below, we highlight the top 10 largest M&A deals announced in the month, based on Intellizence Mergers & Acquisitions Dataset.
### **Devon Energy and Coterra Energy – $58 Billion Merger**
### **Transaction Value: $58 billion**
### **Industry: Energy & Utilities**
Devon Energy and Coterra Energy plan to merge in a transaction valued at approximately $58 billion, creating one of the largest shale oil and gas producers in the United States. The combined company will have significant operations across key U.S. shale basins, including the Permian Basin, Anadarko Basin, and Marcellus Shale.
The merger will help:
* Achieve operational scale in shale production
* Improve capital efficiency and drilling productivity
* Strengthen competitiveness in the U.S. energy market
The transformative merger will combine high-quality assets and complementary technical capabilities, create a scaled, large-cap E&P with leading inventory duration and durable free cash flow.
### **SpaceX to Acquire xAI – $1.25 Trillion Valuation**
### **Transaction Value: $58 billion**
### **Industry: Technology**
SpaceX plans to acquire artificial intelligence company xAI in a transaction valuing the combined entity at approximately $1.25 trillion. This is one of the most high-profile deals in technology history. The acquisition is expected to integrate advanced AI capabilities with aerospace, satellite communications, and space exploration technologies. The deal signals the growing convergence between artificial intelligence and advanced technology infrastructure.
The acquisition will:
* Build next-generation AI systems for autonomous spacecraft and satellite networks
* Enhance Starlink operations with AI-powered infrastructure
* Expand AI applications in aerospace and defense
### **Engie to Acquire UK Power Networks – $14.2 Billion**
### **Transaction Value: $14.2 Billion**
### **Industry: Energy & Utilities**
French energy giant Engie agreed to acquire UK Power Networks from Hong Kong’s CK Group for $14.2 billion. UK Power Networks operates electricity distribution networks serving millions of customers across London and southeast England. With this acquisition, ENGIE will become the best energy transition utility by strengthening its position in regulated electricity networks and will become its second-largest country of activity.
The acquisition will:
* Expand Engie’s footprint in regulated energy infrastructure
* Strengthen presence in the UK power distribution market
* Support the transition toward renewable energy and grid modernization
### **Nuveen to Acquire Schroders**
### **Transaction Value: $13.5 Billion**
### **Industry: Financial Services**
Asset management firm Nuveen announced the acquisition of global investment manager Schroders in a $13.5 billion deal. The acquisition will make Nuveen a global investment powerhouse managing hundreds of billions in assets across institutional and retail clients.
The acquisition will:
* Expand Nuveen’s global asset management capabilities
* Strengthen its distribution channels across Europe and North America
* Increase scale in private markets and alternative investments
### **Santander to Acquire Webster Financial**
### **Transaction Value: $12.2 Billion**
### **Industry: Banking, Financial Services**
Spanish banking giant Santander plans to acquire Webster Financial for $12.2 billion. This acquisition will help Santamder expand its footprint in the United States banking market. This acquisition aligns with Santander’s long-term strategy of expanding its presence in North America.
The acquisition will:
* Strengthen Santander’s U.S. retail and commercial banking operations
* Expand its lending and deposit capabilities
* Enhance digital banking infrastructure
### **Advent International and FedEx to Acquire InPost**
### **Transaction Value: $9.3 Billion**
### **Industry: Supply Chain**
Private equity firm Advent International, together with FedEx, announced the acquisition of European parcel locker company InPost for €7.8 billion ($9.3 billion). InPost operates a large network of automated parcel lockers across Europe. The deal is aimed at expanding InPost’s reach across Europe while giving FedEx access to its locker network. The deal underscores the growing importance of automated logistics and last-mile delivery networks.
The deal will:
* Help expand InPost’s last-mile logistics infrastructure
* Support growing e-commerce delivery demand
* Improve parcel distribution efficiency
### **Gilead Sciences to Acquire Arcellx**
### **Transaction Value: $7.8 Billion**
### **Industry: Biopharmaceutical**
Biopharmaceutical company Gilead Sciences plans to acquire Arcellx, a developer of advanced cancer therapies, in a deal valued at up to $7.8 billion. Arcellx specializes in cell therapies for hematologic cancers, particularly CAR-T treatments. The transaction reflects continued biotech consolidation as pharmaceutical companies acquire innovative drug developers.
The deal will:
* Strengthen Gilead’s oncology pipeline
* Accelerate development of next-generation cancer therapies
* Expand leadership in cell therapy research
### **Blackstone and EQT to Acquire Urbaser**
### **Transaction Value: $6.6 Billion**
### **Industry: Private Equity**
Investment firms Blackstone and EQT announced the acquisition of environmental services company Urbaser from Platinum Equity for $6.6 billion. Urbaser operates waste management and environmental services across multiple countries. Blackstone and EQT will support Urbaser’s growth across its markets, underpinned by an accelerating transition towards a circular economy.
The acquisition will:
* Expand infrastructure investment portfolio
* Increase exposure to sustainability and environmental services
* Scale waste recycling and circular economy initiatives
### **The Brink’s Company to Acquire NCR Atleos**
### **Transaction Value: $6.6 Billion**
### **Industry: Fintech**
The Brink’s Company has agreed to acquire NCR Atleos Corporation for $6.6 billion.
NCR Atleos specializes in ATM network infrastructure and financial technology services. The deal combines two leading financial technology infrastructure providers. It joins Brink’s global cash management expertise and route-based infrastructure with NCR Atleos’ end-to-end ATM management and services expertise, as well as its owned-and-operated ATM network and fast-growing ATM as a Service (ATMaaS) outsourcing solutions.
This deal will:
* Expand Brink’s financial infrastructure services
* Integrate ATM management and cash logistics capabilities
* Strengthen digital banking and payment infrastructure
## **Mubadala Capital and TWG Global to Acquire Clear Channel Outdoor**
## **Transaction Value: $6.2 Billion**** _
_****Industry: Advertising & Communication, Private Equity**
Mubadala Capital, together with TWG Global, announced plans to acquire Clear Channel Outdoor for $6.2 billion. Clear Channel Outdoor operates one of the largest global networks of digital billboards and outdoor advertising assets. The transaction represents a significant milestone in Clear Channel’s transformation, creating a streamlined and nimble ownership structure, supported by long-term capital from Mubadala Capital.
The acquisition will:
* Expand Clear Channel’s media and advertising infrastructure investments
* Accelerate its digital billboard transformation
* Improve global advertising distribution networks
## **How Intellizence Tracks Global M &A Activity**
Monitoring global M&A activity manually can be time-consuming and fragmented.
Intellizence provides curated M&A signals and structured datasets that help organizations track acquisitions, mergers, divestitures, and investments in real time.
With the Intellizence M&A dataset, teams can:
* Track global M&A announcements across industries
* Identify acquisition targets and strategic buyers
* Monitor competitor activity
* Analyze historical deal trends
* Discover new investment opportunities
The dataset is available through the Intellizence platform and REST APIs, enabling seamless integration into CRM systems, dashboards, and intelligence platforms.
## **FAQs — Intellizence M &A Dataset**
**What is the Intellizence M &A dataset?**
The Intellizence M&A dataset provides structured, curated data on global mergers, acquisitions, and divestitures, including deal announcements, company profiles, industries, locations, and source links.
**Why do companies pursue M &A deals?**
Companies engage in M&A to accelerate growth, enter new markets, acquire technology, reduce competition, or improve operational efficiency. M&A can also help companies diversify revenue and reduce risk.
**How are M &A deals funded?**
Deals can be funded through cash, stock, debt financing, or a combination. Large transactions often involve investment banks, private equity firms, and syndicated lenders.
**Can I integrate M &A data into my product or workflows?**
Yes. Intellizence offers API access, daily alerts, and deep integrations to help power sales intelligence tools, AI models, CRM workflows, dashboards, and investment research platforms.
**Who uses Intellizence M &A data?**
Organizations across multiple industries rely on Intellizence, including:
* Investment firms
* Corporate strategy teams
* Sales intelligence platforms
* Market research firms
* Consulting companies
### **Want to keep track of the largest Mergers & Acquisitions (M&A) deals in 2026? Check out ****Th e Intellizence Mergers & Acquisitions (M&A) Deals****.**__
### **Check out the********Ten Biggest M&A deals for January 2026.**
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Top 10 Largest Global Merger & Acquisition Deals – February 2026 The M&A momentum continued in February with several large strategic deals across energy, telecom, finance, infrastructure,...
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