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Clifford Chance

European M&A: On the road to recovery?

Client Briefing

5 June 2013

While caution prevails as economic uncertainty continues, the European M&A market remains a favourite destination for international investors.

Of all the regions in the world, only the more buoyant economies of the Asia Pacific regions are seen by investors as offering better growth and M&A prospects. 42% of large international corporates see growth and acquisition opportunities within Europe, well ahead of North and Latin America as well as Middle East and Africa.

These are among the findings from the latest annual global survey that forms the basis of Clifford Chance's European M&A: On the road to recovery? report. The survey, conducted by the Economist Intelligence Unit (EIU) on behalf of Clifford Chance, canvassed the views of senior executives at close to 400 large companies globally from a wide range of industries. Over one-half of companies represented in the survey have annual revenues in excess of US$1 billion.

Europe's durable strengths, which include a highly developed infrastructure (42%) as well as its advanced technological know-how (29%), were cited by respondents as the main features which make it an appealing deal-making destination. 27% of respondents also cited Europe’s stable regulatory and legal frameworks as one of the biggest drivers for pursuing M&A in the region.

Commenting on the results of the survey, Matthew Layton, Global Head of Clifford Chance's Corporate practice, said:

"There is no doubt that the European M&A market has had a difficult few years since the global financial crisis took hold. However, the survey results indicate why we may now be approaching a turning point. Many of Europe's advantages as a destination are timeless. In a volatile environment, the enduring qualities of many European businesses, founded on a resilient infrastructure, make Europe a desirable hunting ground for international buyers."

Some insights from the research

  • Heatmaps (most attractive European regions/ countries for doing M&A deals)
  • Top tens and Top fives (including features attracting M&A in Europe and drivers for European M&A)
  • Clifford Chance M&A partner Patrick Sarch discusses the report findings on Reuters TV.  Patrick talks about the current M&A landscape in Europe, the factors and drivers behind Europe being an attractive deal-making destination and the sources of funding for deals.  See other media coverage on the Wall Street Journal website, which includes commentary from the global head of Clifford Chance's corporate practice, Matthew Layton, and on Bloomberg TV in the US, where partner Guy Norman is interviewed.

Press enquiries

All press enquiries, including requests for the full report, should be directed to the PR team. Please email Wendy Lee-McGuinness.

2012 study: Cross-border M&A – Perspectives on a changing world

Click here to view last year's report.

Global M&A Toolkit

The Global M&A Toolkit provides M&A practitioners with a set of practical tools and information, such as client publications, webinars and video interviews and access to our global Cross Border Acquisition Guide database.

www.cliffordchance.com/GlobalM&AToolkit