The optimism amongst dealmakers we reported in autumn last year was well-founded: the market has remained buoyant but the question now is can this optimism survive in the current fractious international political environment?
Our forward-looking survey paints a more nuanced picture than 12 months ago. For many, the sunny uplands of M&A activity are still in sight with cash-rich domestic and international acquirers, an ongoing drive for consolidation and an appetite for large transformational deals driving the market in the year ahead. Others, however, question this optimism and those expecting European M&A to slow and financial conditions to worsen have multiplied, reflecting more moderate GDP growth but perhaps more significantly, concern around geopolitical risk and stock market volatility.
Key findings from our research include:
Our features in this year’s report include articles on “Key trends affecting the European compliance and regulatory environment” and, of particular interest in these current uncertain times, “The rise of protectionist measures” within the EU and other European jurisdictions.
We hope you find the European M&A Outlook interesting and by all means share the report with your colleagues. Our annual CMS European M&A Study will be published in spring 2019 when we will report back on how this buoyant market has impacted M&A transaction terms and conditions.