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The M&A Survey
The M&A Survey identifies the recurring elements in M&A transactions and the actual terms and conditions commonly used in those transactions
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contrast is pleased to announce that the fourth M&A Survey was again a very successful exercise.
In 2007, 2009 and 2012, we have organized Surveys regarding the use of certain typical variables in share purchase agreements that are used for company acquisitions. These M&A Surveys covered deals concluded in the period 2004-2012.
In 2016 we have organized a fourth edition of the M&A Survey, covering the period 2012-2016.
The fourth edition of the M&A Survey was realized with the support of no less than 74 investment companies, financial service providers and law firms: Ackermans & van Haaren, Altius, Antaxius, Argo, Argos Soditic, Arts Cleeren & Vennoten, Ashurst, Astrea, Baker McKenzie, Aveve, Bright, Cadanz, Capricorn Venture Partners, Cazimir, Clifford Chance, contrast, Creafund, Cresco, Crowell & Moring, Curia, De Bock & Baluwé, De Wolf, Declerck Leterme & Partners, Deloitte, Deminor, Derycke & Vandenberghe, DLA Piper, Domo Investment Group, Dumon Sablon & Vanheeswijck, Elegis, Eubelius, EY - Cnockaert & Salens, Fieldfisher, Finpartners, Freshfields Bruckhaus Deringer, Gimv, GSJ Advocaten, HVG Advocaten, ING, Intui, Janson Baugniet, Jones Day, K law, KPMG, Laga, Laurius, Law Square, Liedekerke, Linklaters, Loyens & Loeff, Lydian, Marx Van Ranst Vermeersch & Partners, Mazars, McGuireWoods, Mertens & De Paepe, Monard Law, Moore Stephens, NautaDutilh, Olislaegers & De Creus, Peeters Advocaten, Portelio, Quinz, Saffelberg Investments, Schoups, Simont Braun, Stibbe, Strelia, Van Bael & Bellis, van Cutsem Wittamer Marnef & Partners, Vandelanotte, Vervisch, VMB and VWEW. The Belgian Venture Capital & Private Equity Association (www.bva.be) actively supported the Survey.
For the first time, the Survey was conducted in part based on an online application. A total of 376 transactions were reported by the participants. The confidentiality of the reported transactions was at all times guaranteed and fully respected. Participants were not asked to provide names or other details which could prejudice the anonymous character of the inquiry. The questionnaire did, however, contain a safety measure to avoid double-counting. All reported transactions were analysed in detail and verified for internal consistency and anomalies.
After the elimination of non-qualifying transactions and double-counting, exactly 300 deals – representing a total deal value of more than 14,7 billion euros – were included in the M&A Survey. The M&A Survey is based only on transactions whereby a buyer acquires control over a non-listed Belgian company following a share deal. In order to measure the possible influence of the deal value on the share purchase agreement, the transactions are divided into three categories: (i) deals with a transaction value less than EUR 10 million, (ii) transaction values between EUR 10 million and EUR 100 million and (iii) transaction values higher than EUR 100 million.
The conclusions of the fourth M&A Survey will be published in Tijdschrift voor Rechtspersoon en Vennootschap/Revue Pratique des Sociétés.
On 28 March 2017 contrast organized a closed event where the results of the fourth M&A Survey were presented to all participants. You can find the pictures here.
If you are interested in the results of the fourth edition of the M&A Survey, please click on the button below to order a booklet which includes all results.
Also discover our Books
Vertical Agreements in EU Competition Law (3rd edition)
Frank Wijckmans | Filip Tuytschaever
Oxford University Press, 2018, 496 p.
The EU Private Damages Directive - Practical Insights
Frank Wijckmans | Maaike Visser | Sarah Jaques | Evi Noël
Intersentia, 2016, 110 p.
Horizontal Agreements and Cartels in EU Competition Law
Frank Wijckmans and Filip Tuytschaever (contrast, European & Business Law)
Oxford University Press, 2015, 512 p.
Also discover our Articles
Assessing the selectivity of tax measures under State aid rules - everything clear?
Benjamin Magnus, Laura Sente
Competitio, 2018/4, p. 319-343
Aides d’État et opérations commerciales avec les pouvoirs publics
Journal de Droit Européen, 2018, 378-384
Haven van Antwerpen nog geen safe harbour op vlak van staatssteun
De Juristenkrant, 19 December 2018
Voorlopige maatregelen door de Belgische Mededingingsautoriteit: stand van zaken na 5 jaar prima facie-vaststellingen onder Boek IV van het Wetboek economisch recht
Thomas De Meese (Crowell & Moring), Emmelie Wijckmans (contrast)
Tijdschrift voor Belgisch Handelsrecht 2018/8, October 2018, p. 799 – 817
The new Code of companies and associations
Bart Bellen (Contrast), Jean-Pierre Blumberg (Linklaters), Géraldine Bourguignon (Cleary Gottlieb), Peter Callens (Loyens Loeff), Olivier Clevenbergh (Strelia), Niek De Pauw (Clifford Chance), Peter De Ryck (Lydian), Marc Fyon (Stibbe), Alexis Goeminne (Ambos Law), Nico Goossens (Argo Law), Grégoire Jakhian (Loyens Loeff), Deborah Janssens (Freshfields), Elke Janssens (NautaDutilh), Vincent Macq (Freshfields), Pierre-Olivier Mahieu (Allen & Overy), Dirk Meeus (Allen & Overy), Jan Meyers (Cleary Gottlieb), Maxime Monard (Monard Law), Jan Peeters (Stibbe), Ivan Peeters (PWC Legal), Sébastien Ryelandt (Clifford Chance), Nicole Segers (Monard Law), Dirk Van Gerven (NautaDutilh), Koen Vanhaerents (Baker McKenzie), Frank Wijckmans (Contrast).
22 October 2018
Le nouveau code des sociétés et des associations
Bart Bellen (Contrast), Jean-Pierre Blumberg (Linklaters), Géraldine Bourguignon (Cleary Gottlieb), Peter Callens (Loyens Loeff), Olivier Clevenbergh (Strelia), Niek De Pauw (Clifford Chance), Peter De Ryck (Lydian), Marc Fyon (Stibbe), Alexis Goeminne (Ambos Law), Nico Goossens (Argo Law), Grégoire Jakhian (Loyens Loeff), Deborah Janssens (Freshfields), Elke Janssens (NautaDutilh), Vincent Macq (Freshfields), Pierre-Olivier Mahieu (Allen & Overy), Dirk Meeus (Allen & Overy), Jan Meyers (Cleary Gottlieb), Maxime Monard (Monard Law), Jan Peeters (Stibbe), Ivan Peeters (PWC Legal), Sébastien Ryelandt (Clifford Chance), Nicole Segers (Monard Law), Dirk Van Gerven (NautaDutilh), Koen Vanhaerents (Baker McKenzie), Frank Wijckmans (Contrast)
22 octobre 2018