Two of the summer’s largest transactions are reshaping the M&A landscape. Solstice’s $14.5 billion cash-and-stock acquisition of Element Solutions ranks as the largest U.S. strategic deal of the period, while Brookfield’s roughly $7 billion purchase of Aypa stands as the largest sponsor-backed transaction on record for the month.
The deals arrived even as overall dealmaking cooled: aggregate global M&A value fell 39% month-over-month to about $410 billion, according to dealmaking trackers, with healthcare and industrials leading activity by value on the strength of a handful of multibillion-dollar transactions.