The first half of 2026 has seen a series of major mergers and acquisitions across some of the world’s biggest industries, from artificial intelligence and space technology to energy, media and consumer goods. Several of the deals involve companies seeking to expand into fast-growing markets, while others aim to create larger businesses with greater scale and resources.
Some transactions have also faced regulatory scrutiny, shareholder concerns and questions about their potential impact on competition. Here are five of the biggest business deals announced or completed so far this year:
1. SpaceX’s takeover of xAI
Elon Musk’s SpaceX merged with his artificial intelligence company, xAI, in a $250 billion deal that valued the combined entity at $1.25 trillion.
The merger restructured Musk’s holdings and gave him a 43% stake in the newly combined company, estimated to be worth $542 billion. It also brought SpaceX’s core space exploration and Starlink satellite internet operations together with xAI’s AI research and products, including the Grok chatbot and large language models, under one corporate umbrella.
The deal briefly made Musk a trillionaire, although that changed after a decline in SpaceX’s stock value.
2. Paramount’s acquisition of Warner Bros. Discovery
Earlier this year, Paramount Skydance entered an agreement to acquire Warner Bros. Discovery for $110 billion, following a high-stakes bidding war with Netflix.
READ: The biggest mergers and acquisitions of 2025 (December 31, 2025)
The proposed deal has faced scrutiny from shareholders and several U.S. states concerned that the combined company could gain significant power to raise prices in the film and television markets.
California and 11 other states have filed a lawsuit in federal court in Oakland challenging the acquisition.
3. SpaceX’s acquisition of Cursor
SpaceX completed its $60 billion acquisition of AI coding startup Cursor on Friday.
The companies first partnered in April, giving SpaceX the right to acquire Cursor. SpaceX committed to the acquisition in June.
Morgan Stanley estimates that Cursor could add about $2.5 billion to SpaceX’s revenue in 2026 and $13 billion in 2027, according to Yahoo Finance.
The companies had previously worked together, with Cursor helping train Grok 4.5 alongside SpaceX using “trillions of tokens of Cursor data,” according to the company.
4. Devon Energy-Coterra Energy merger
Devon Energy and Coterra Energy completed their all-stock merger, creating a combined company that will operate under the Devon Energy name.
The companies initially agreed to merge in February 2026, creating a business with an estimated combined enterprise value of $58 billion.
Upon completion, Devon shareholders held roughly 54% of the combined company, while former Coterra shareholders owned approximately 46% on a fully diluted basis.
5. Unilever-McCormick merger
Unilever combined its food division with spice maker McCormick in a $66 billion deal.
Unilever shareholders own 65% of the combined group, while McCormick investors control the remaining 35%.
The merger brought together Unilever brands including Hellmann’s mayonnaise, Marmite and Knorr with McCormick’s red-topped spices, as well as Frank’s RedHot and Cholula sauces.