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Manila Bulletin devider Business devider Trade & Industry devider Philippines M&A deals collapse to single quarter transaction as foreign capital retreats

Philippines M&A deals collapse to single quarter transaction as foreign capital retreats

Published Aug 12, 2026 02:44 pm
The Philippines managed to secure only one merger and acquisition (M&A) deal in the second quarter as foreign investors are becoming more selective in deal-making, according to Singapore-based media company DealStreetAsia.
In a report, DealStreetAsia said the country’s M&A deal volume fell to just one in the second quarter, from the three deals recorded in the same period in 2025. This is also lower than the revised volume of three deals in the first quarter of the year.
As a result, the Philippines contributed only 1.4 percent to Southeast Asia’s total deal volume of 73 in the quarter.
The sole M&A deal in the country accounted for $6.2 million, or 0.2 percent of the region’s total transaction value of around $4.05 billion, according to DealStreetAsia.
DealStreetAsia said more than 90 percent of the transactions during the quarter were concentrated in Singapore, Malaysia, and Indonesia.
Singapore, for one, recorded the highest number of deals at 42, for a combined value of $1.19 billion. Meanwhile, Indonesia registered only nine deals, but the total value was larger at $1.54 billion.
Malaysia secured a total of 15 deals during the quarter, with an aggregate value pegged at $612.6 million.
In contrast, DealStreetAsia said deal flow in the Philippines, Vietnam, and Thailand remained thin, with a combined total of seven M&A deals.
DealStreetAsia said this divergence showed that the recovery in M&A deals has yet to broaden across the region, especially as foreign-led transactions have not yet returned to previous levels.
As such, it noted that deal-making in the quarter was “underpinned primarily by domestic buyer conviction rather than a sudden inflow of foreign capital.”
The region’s M&A deals in the first half stood at 154 transactions, up by 28 percent from 120 deals in the same period a year ago. By value, deals in the first half expanded by nearly 23 percent year-on-year to $15.25 billion.
Deals for the first six months were largely driven by industrials, retail, healthcare, technology, and real estate, while transactions in financials and business services are still not up to par compared with last year.
DealStreetAsia said growth in the second half will depend on the depth of the transaction pipeline, financing conditions, and buyers’ willingness to bridge valuation gaps.
It noted that stronger participation by foreign investors in deal-making would help raise transaction volume and value in the next six months.

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DealStreetAsia merger and acquisition (M&A)
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