Episode 24 of Mergerspresso, Addleshaw Goddard’s corporate finance podcast, kicks off 2026 by exploring how companies are reshaping their businesses in response to changing markets and shareholder pressure. Host Lucy Robson is joined by guests Chris Taylor and Marton Eorsi to discuss the themes emerging from AG’s 2026 M&A Outlook.

The episode examines why divestments and portfolio refocusing are accelerating across retail and consumer businesses, as companies concentrate on their strongest brands, raise capital and respond to weaker consumer confidence. Lucy and Chris discuss how scale, efficiency and brand focus are becoming strategic imperatives as boards look to protect margins and drive long-term value.

Turning to energy, Lucy and Marton explore a parallel trend of consolidation and refocusing, with energy majors pivoting back towards core oil and gas assets while selectively divesting renewables. The discussion highlights how security of supply, shifting energy policy priorities and increased investor risk appetite are reshaping deal-making in the sector.

Together, the episode sets out why 2026 is likely to see continued strategic M&A as businesses prune, consolidate and reposition themselves for the next phase of growth.

For a deeper dive into the trends shaping 2026, AG’s 2026 M&A Outlook brings together detailed insights on the next wave of strategic M&A activity and business reshaping across sectors.