CMS European M&A Outlook 2019

05 September 2019

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Mergermarket is pleased to present Storms brewing: European M&A Outlook 2019, published in association with CMS.

This report provides invaluable insights into the M&A landscape in Europe in 2019, and the opportunities and challenges facing dealmakers.

Highlights from the report include:

  • M&A appetite weakens: 45% of respondents are now not considering M&A, compared to only 28% last year. Only 27% of respondents expect the level of M&A activity in Europe to increase over the next 12 months, and just 1% expect it to increase significantly. Even those that are open to deals have adopted a more defensive mindset, slanting towards divestments and bolt-ons rather than transformative deals.
  • Financing conditions look set to tighten: 72% of respondents expect financing conditions to become more difficult in the coming year, even though, at the moment, interest rates are low and finance is readily available. This contrasts sharply with last year’s survey, in which 47% predicted financing conditions would get easier in the coming year.
  • Distressed M&A and restructuring are expected to rise: 95% of respondents said they expected distressed M&A to rise, including 64% who said they expected it to rise significantly. 94% of respondents said they thought restructurings would increase in number.