Investment Banking Interview Prep: The M&A Deals You Need to Know in 2026

Application season is underway, and if you’re targeting investment banking, understanding what’s actually happening in M&A can give you a real advantage in interviews.In this episode, Anthony Cheung and Stephen Barnett break down the huge resurgence in global dealmaking in 2026, why mega-deals are dominating, which sectors and banks are benefiting, and how interest rates, AI and valuations are shaping the outlook.Most importantly, we explain how to turn that knowledge into better interview answers: which deals to research, how to structure your response and how to demonstrate genuine commercial understanding rather than simply memorising headlines.(00:00) Investment Banking Interview Prep(01:48) The M&A Boom(04:47) Why Mega Deals Are Surging(10:52) What Drives M&A?(17:46) Merger Arbitrage (19:41) The Hottest Sectors(24:04) Which Banks Are Winning?(26:15) How to Target Your Applications(30:21) Stephen's Favourite Episode(33:26) Anthropic IPO Prediction(34:46) Impact of US Mid-Terms(41:23) Number One Advice