November’s mid-market M&A numbers just hit a four-year low — yet beneath the slump, dealmakers say a quiet reset is underway that could set up one of the strongest rebounds in years. As sectors from tech to real estate quietly accelerate, and firms reposition portfolios ahead of 2026, the headline numbers don’t tell the full story, they say. Here’s our monthly analysis on where momentum is actually building, what’s driving early deal flow pockets, and which sectors may lead the recovery.
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