McKinsey Live

Few events catalyze transformations the way major deals can. Transactions can succeed on any number of dimensions—gains in capabilities or talent, for example, or improvements in supply chains, distribution, customer segments, or geographic reach—but they can also play a distinctive role in creating long term value. Two decades of research show that while large deals still have their place, programmatic M&A strategies create gains in excess total returns to shareholders at lower levels of risk.

For a discussion of what’s next in M&A—and what leaders need to know as the year evolves—join McKinsey Senior Partners Jake Henry and Mieke Van Oostende on May 13. They will explore the key trends and outlook for M&A in 2025, examine what successful programmatic acquirers do differently, and share how leaders can sustain M&A muscle.

Tariffs have emerged as an urgent topic for many businesses and the world economy and will likely remain a pressing issue for most of 2025. Changes in trade policy are reshaping supply chains, cost structures, and market dynamics at an unprecedented pace, though their impact is complex and not evenly distributed.

Even as top executives grapple with the immediate challenges posed by tariffs, what comes next is not always clear. Business leaders once again find themselves facing a highly uncertain environment with few parallels to guide them. But reacting in the moment could be affected by a range of consequences—from a sharp macroeconomic impact on an industry or region to unpredictable trading partner responses.

Given the web of interdependencies that govern global trade, it’s clear that businesses can’t define and prepare for the path forward using traditional methods. Join McKinsey Senior Partners Cindy Levy and Shubham Singhal to discuss how business leaders can gain an edge by identifying near-term and long-term strategic actions in the face of rapid changes to trade policy.