CMS reports on 2015 M&A activity and forecasts a year of uncertainty ahead

• 2015 was a record year for European M&A in value terms although deal volume was down 6%
• CMS transacted 391 deals in 2015, 13% more than the previous year
• 2016 is already a riskier M&A environment compared with 2015
• Buyers will have to respond at some stage to the major moves of their competitors in 2015.

Brussels, 6 April 2016 – CMS’s 8th annual M&A Study revealed that deal value in Europe was up 22% in 2015 to EUR 990bn compared to 2014, despite a drop in volume of 6%. 2015 also saw the highest final quarter on record with deal value exceeding EUR 420bn. Although deal volume declined overall by 6%, CMS transacted 13% more deals in 2015 than the previous year. In the study, CMS analyses nearly 2,800 listed and non-listed European company deals for which it provided legal advice between 2010 and 2015.