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Giant utility deals do not come along often. Mergers in this heavily regulated industry require approvals from multiple agencies and often face pushback from politicians and local civic groups worried about rising electricity prices.

But two of the largest power companies in the United States, NextEra Energy and Dominion Energy, are giving it a try, with a $67 billion tie-up announced in May. Sysco, the big food distributor, also went big in March with the $29 billion acquisition of Jetro Restaurant Depot, a supplier to independent restaurants, a deal that could reshape the food supply industry. And this month, Stripe and the private equity firm Advent International offered about $53 billion to acquire PayPal, in what would be one of the largest-ever deals in financial services.

Companies across America are seizing on what may be the most favorable regulatory environment for businesses in years to complete deals that might have been unlikely under previous presidencies. The rush is on to get them done before President Trump’s term runs out.

“There is a ‘now or never’ attitude for attempting transformational combinations,” lawyers at Hunton Andrews Kurth wrote in a note this year.

Although Mr. Trump plays no formal role in approving most mergers, he has publicly weighed in on deals. Some executives, recognizing that the administration is more transactional than its predecessors, have stopped by the White House during their efforts to get his administration’s blessing for them.

The regulators the president has appointed to oversee deals have taken a more flexible approach. For example, the Justice Department said last week that it would fast-track its review of some mergers, asking fewer questions upfront. That new policy was a sign the department was “open for business,” lawyers at Wilmer Hale wrote in a memo for clients.

“You have a federal antitrust enforcement regime that is viewed generally as meaningfully more accommodative than the Biden administration,” said Edward Lee, a partner at the law firm Kirkland & Ellis. “Obviously, or in terms of dealmakers and dealmaking animal spirits, that’s always a good thing.”

Analysts at Goldman Sachs said they expected busy deal activity to continue into the second half of the year, citing, among other factors, a “friendly” regulatory backdrop. The firm’s list of potential targets for acquisitions include the copper company Freeport-McMoRan, as the building of A.I. data centers increases demand for the metal. Analysts expect the boom in data centers to spur other deals as well, particularly in power and energy.

Banking executives have picked up talks about merging their own businesses, as regulators have unwound the Biden administration’s efforts to make those deals harder. There has long been a debate about how stringently to monitor banking deals, because some critics argue they could force the closure of vital community branches or consolidate risk among fewer banks. Some, though, including former Treasury Secretary Janet L. Yellen, have argued that more consolidation among the roughly 4,100 small U.S. banks could help steady industry volatility.

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NextEra Energy, led by John Ketchum, its chief executive, and Dominion Energy announced their merger in May. Credit…Danielle Villasana/Reuters

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