CMS European M&A Study 2016

March 2016

2015 was a landmark year for M & A. There were several industry game-changing deals. Each of the first three quarters of 2015 saw European M&A deal value exceeding EUR 170bn culminating in Q4 2015 being the highest ever deal value quarter for Europe (EUR 420bn), and 2015 being a record year for global M&A.

Europe had a record year with deal value up 22% to EUR 990bn although volume was slightly down by 6% to 6,200 deals. There was a significant imbalance between inbound and outbound activity with aggressive US investment fuelling a 54% increase in European inbound M&A but a weak Euro contributing to a 27% decrease in European outbound M&A. 2015 also saw increased activity from private equity and other financial investors, both as buyers and sellers. Europe maintained a healthy 25% share in the global M&A market.

As we move into 2016, we see various grey or black swans. There is the long predicted slowdown of the rate of economic growth in China; the greatest migration to Europe for a century across a fragile Schengen zone; interest rate rises in the US and a clampdown on inversion deals; a US presidential election with the possibility of one of the most divisive candidates in US election history; a more aggressive corporate tax climate; a ground breaking EU in / out referendum in the UK which could change the political face of Europe; and the dark shadow of ongoing terrorist threats.

Yet major strategic moves made in so many industries are bound to elicit a forthright response from competitors. Funding capacity remains strong whilst the low oil price (a great threat to the oil industry itself) provides an advantage to manufacturing industries.

Opportunities for decisive M&A continue.

Our new CMS European M&A Study 2016 covers nearly 2,800 deals and we focus on the 391 CMS deals in 2015 and the 1,654 CMS deals in the period 2010 – 2014 by way of comparison. We have also introduced some new features and trust that the Study will assist you in your everyday M&A life.

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Authors

Picture of Vincent Dirckx
Vincent Dirckx
Partner
Picture of Stefan Brunnschweiler
Stefan Brunnschweiler, LL.M.
Partner
Dr. Maximilian Grub
Partner
Dr. Thomas Meyding
Partner
Picture of Peter Huber
Peter Huber
Managing Partner
Helen Rodwell
Helen Rodwell
Managing Partner
Picture of Radivoje Petrikic
Radivoje Petrikić
Partner
Picture of Martin Mendelssohn
Martin Mendelssohn
Partner
Picture of Roman Tarlavsky
Roman Tarlavski
Partner
Picture of Francisco Xavier de Almeida
Francisco Xavier de Almeida
Partner
Picture of Natalia Kozyrenko
Natalia Kozyrenko
Partner
Picture of Vladimir Zenin
Vladimir Zenin
Partner
Picture of Pietro Cavasola
Pietro Cavasola
Managing Partner
Picture of Carlos Pena
Carlos Peña
Partner
Picture of Julien Leclere
Julien Leclère
Managing Partner
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