Merger and acquisitions activity peaked in the United States in 2021, but after SPACs got shellacked and the Biden administration took a harsher view of large-scale mergers, deals became fewer and further between.

This trend is expected to reverse in 2025 as the Federal Reserve lowers interest rates and a more M/A-friendly Federal Trade Commission (FTC) enters the fold. Analysts at Goldman Sachs expect many larger-scale deals to be explored in the next 12 months, and one may already be underway as Mondelez International (NASDAQ:MLDZ) is again considering purchasing chocolate conglomerate Hershey Inc. (NYSE:HSY).

Today, we'll...