EUROPEAN M&A TRENDS 2024

Exclusive invite-only event, Chatham House Rule

11 June 10:00 CEST

Agenda

10:00 Welcome
10:05 Participants’ round of introduction
10:15 Keynote: 
10:50 Open discussion
  • Think thank
  • Deepening of the discussion
  • Sharing best practices
11:45 Final thoughts

The discussion offers a comprehensive look at the merger and acquisition (M&A) landscape in Europe for the year 2024. It includes an in-depth analysis of prevailing trends, highlighting the most active sectors and regions. The discussion also touches on the findings of the CMS European M&A Study 2024.

In 2023, the mergers and acquisitions (M&A) market demonstrated resilience amidst various challenges, retaining a cautiously optimistic outlook for 2024. The European M&A Study highlights a shift in pricing structures, with a notable decrease in price per action (PPAs) and earn-outs, leaning towards more predictable deal terms, though smaller transactions still face pricing uncertainties. Additionally, environmental, social, and governance (ESG) considerations have become increasingly significant in M&A due diligence processes, driven by a surge in sustainable and responsible investment interests, further fueled by escalating regulatory and reputational demands.

The study also underscores the rising trend of strategic investments, with a significant number of strategic investors participating as both buyers and sellers, indicating a strategic realignment of business portfolios in response to market dynamics. Furthermore, the approach to risk allocation remains consistent, with operational warranties typically lasting between 12 to 24 months and liability caps staying under 50% of the purchase price. Warranty and indemnity (W&I) insurance usage in large European deals continues to be stable, especially in the UK. Despite the overarching geopolitical and economic uncertainties affecting transactions, there is a noted confidence rebound in the debt market, with potential uplifts from election cycles. All of this suggests a complex but dynamic M&A landscape ahead.

Speakers

LHW_Online

Louise Wallace
Partner
Head of the CMS Corporate/M&A Group
CMS

malte-bruhns

Dr. Malte Bruhns
Partner
Rechtsanwalt, Head of the CMS Corporate/M&A Group
CMS

Registration

Participation is organised on an invite-only basis.

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DISCUSSION MATERIALS

The components used during the roundtable can be downloaded by clicking the links below.

Presentation: European M&A Trends 2023

CMS European M&A Study 2023

CMS European M&A Outlook 2023

Roman Tarlavski

Stefan Brunnschweiler

Venue


Hotel Riu Plaza España
C.Gran Vía, 84, 28013 Madrid, Spain

Louise Wallace
Partner
Global Head of the CMS Corporate/M&A Group

Louise Wallace has been a partner in the Corporate Team since 1997 and is a member of CMS’ Executive Committee.

She covers all aspects of M&A, private equity, corporate finance, takeovers, joint ventures, corporate outsourcing, integrations and governance, and all forms of corporate restructurings.

Louise specialises in the hotels & leisure and the consumer and retail sectors. She is ranked in the top tier of Chambers 2016 for her work in the hotels & leisure sector and is recognised in Chambers for M&A (High End) GBP 250m+ deals.

Louise has acted on many of the leading M&A transactions in the Hotels & Leisure sector. She has advised owners and financiers on countless Management and Franchise Agreements with Hilton, IHG, Marriott, Accor as well as “White Label” Management Agreements with Redefine BDL, Chardon, Sangine, MacDonald Hotels to name but a few.

On the consumer and retail side, she has an in-depth knowledge of the sector and supports our clients with M&A, competition, media and advertising, food law, etc. Her detailed expertise as a corporate partner means Louise also regularly advises clients across a wide range of other sectors including real estate, manufacturing, support services, industrials and IT.

https://cms.law/en/int/people/louise-wallace

Dr. Malte Bruhns
Partner
Rechtsanwalt | Co-Head of the CMS Corporate/M&A Group
CMS

Malte is a corporate lawyer at CMS and serves as the firm’s Global Co-Head for Corporate M&A. For nearly 20 years he has advised strategic and financial investors on numerous complex and high-value transactions across various business sectors.

Malte joined CMS in 2005 and was elected partner in 2011. He is often recommended by clients and competitors in leading industry publications for his competent, professional and efficient transaction advice.

https://cms.law/en/deu/people/malte-bruhns