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We are pleased to share with you the key findings of the guide “Impact of COVID-19 on European M&A activity” which CMS produced together with investment bank Credit Suisse.
In this publication we analyse the financial and legal implications of the COVID-19 pandemic on M&A transactions in Western Europe. We identified key issues impacting M&A deals, ranging from the possibility to terminate or postpone pending transactions to the impact of several state aid programmes. Although changes are happening on a day-to-day basis, the COVID-19 pandemic also seems to create new opportunities for distressed M&A, strategic buyers, private equity and financial sponsors. This publication aims to identify aspects which should be considered when assessing and negotiating M&A transactions in the COVID-19 era.