CMS European M&A Study 2011

10/05/2011

The CMS European M&A Study 2011 is a detailed analysis of over 1,000 European M&A deals that CMS has worked on between 2007 and 2010. It is a continuation of previous years’ CMS European M&A Studies which clients said had “real, substantial value”.

The study identifies what can be considered ‘market’ in European M&A. Overall, the data points to contractual risk allocation beginning to swing back in favour of sellers after the buyer’s market we observed in the first year post-Lehman. We also see growing evidence of US deal norms influencing European deals, for example a gradual shift against de minimis clauses and greater use of ‘excess only’ recovery where basket provisions were agreed upon.

The data is broken down by regions in Europe and provides quantitative and qualitative analysis of the trends in the UK, German-speaking countries, France, Benelux, Southern Europe and Central Eastern Europe. Where there are significant differences with M&A deal terms in the US, comparisons between Europe and the US are included as well.

Please get in touch with Vincent Dirckx, to request a copy of the study or for more information. We can slice and dice this data to make the findings of our analysis highly relevant to your own M&A situation.