Investing.com -- JPMorgan Chase & Co. reported that April presented difficulties for deal activity as clients paused transactions due to geopolitical uncertainty related to the Iran war, according to Anu Aiyengar, the bank's global head of advisory and mergers and acquisitions.

"When you see that it's about to get solved you may say, 'You know what? Let me just wait for a few weeks,'" Aiyengar said in a Bloomberg Television interview on Tuesday at the Milken Institute Global Conference. "So there's been a bit of stop and start that has happened in April."

Aiyengar noted the market is placing a premium on scale, pushing clients toward larger transactions while deals valued below $2 billion have declined. "Everybody is like: 'Let's go big, let's go big, let's do 10-plus-billion-dollar deals,' which is what we call mega-deals," Aiyengar said.

There were 71 mega-deals in 2025, with 30 already completed in the first four months of 2026, according to Aiyengar.