CMS European M & A Study 2014

Europe

We are delighted to present the CMS European M & A Study (the “Study”). This is our sixth annual study which means that we have now reviewed over 2,000 deals for the seven year period of 2007 – 2013, a period of prosperity, financial crisis, significant geopolitical changes, concerns about the Eurozone and, at last, signs of some sustainable recovery in Europe.

The CMS European M & A Study 2014 provides insight into the legal provisions of mergers & acquisitions (M & A) agreements, makes comparisons across Europe and with the US and identifies market trends. It evaluates private M & A agreements relating to both non-listed public and private companies in Europe for the seven-year period 2007 – 2013. Of the 2,068 transactions we analyse in the Study, 344 relate to 2013.

Particular highlights in our Study are the CMS Trend Index and Sector Focus described below:

  • CMS Trend Index – for each of the aspects we report on, we provide a CMS Trend Index to illustrate a current fact or trend.
  • Sector Focus – CMS has adopted for a number of years a sectoral approach and now we present risk allocation statistics within specific sectors. We provide 2013 sector statistics for a number of areas we report on, namely locked box deals, earn-outs, liability caps, limitation periods and MAC clauses.