The combined mass will reach the top of the arc. The total mechanical energy at the bottom will be equal to the total mechanical energy at the top.
At the top, the combined mass rests as it has to reach that top point with the minimum value of v.
Let the reference height for the gravitational potential energy be at the bottom of the arc.
Now, the potential energy of the masses at the bottom of the arc is zero as they are at the reference ground, and the kinetic energy is \(\frac{1}{2}\left( {m + M} \right){\left( {v'} \right)^2}\). Therefore, the total mechanical energy of the masses at the bottom of the arc is:
\(\begin{array}{c}{E_{\rm{B}}} = \frac{1}{2}\left( {m + M} \right){\left( {v'} \right)^2} + 0\\ = \frac{1}{2}\left( {m + M} \right){\left( {\frac{m}{{m + M}}v} \right)^2}\\ = \frac{1}{2}\frac{{{m^2}}}{{m + M}}{v^2}\end{array}\)
Now, the potential energy of the masses at the top of the loop is \(2\left( {m + M} \right)gl\) , and the kinetic energy is zero. The total mechanical energy of the masses at the top of the arc is:
\(\begin{array}{c}{E_{\rm{T}}} = 0 + 2\left( {m + M} \right)gl\\ = 2\left( {m + M} \right)gl\end{array}\)
Now, using energy conservation, you get:
\(\begin{array}{c}{E_{\rm{B}}} = {E_{\rm{T}}}\\\frac{1}{2}\frac{{{m^2}}}{{m + M}}{v^2} = 2\left( {m + M} \right)gl\\{v^2} = 4{\left( {\frac{{m + M}}{m}} \right)^2}gl\\v = 2\frac{{m + M}}{m}\sqrt {gl} \end{array}\)
Hence, the smallest value of v that is sufficient to cause the pendulum to swing over the top of the given arc is \(2\frac{{m + M}}{m}\sqrt {gl} \).