Despite soaring oil prices and stock market turbulence, U.S. companies are aggressively pursuing major mergers and acquisitions. Sysco's $29 billion acquisition of Jetro Restaurant Depot, a cash-and-carry wholesaler, exemplifies this trend, aiming to enter the cash-and-carry business. Simultaneously, McCormick's $45 billion bid for Unilever's food unit seeks to strengthen retail sway amid shifting consumer preferences. Universal Music's $64 billion offer from Bill Ackman's firm further underscores the deal-making momentum, valuing the label at 78% above its share price. These transactions contributed to a record $464 billion in M&A announced in Q1 2026, the strongest first quarter in five years.

Bankers attribute this surge to the Trump administration's perceived openness to deals compared to the Biden era, though companies face scrutiny from state attorneys general.