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Leveraged Mergers & Acquisitions: special international survey

20 September 2010

Allen & Overy’s Global Law Intelligence Unit has carried out an international legal survey rating the complexity of undertaking private leveraged M&A transactions in 145 jurisdictions.


It is the first time key issues have been analysed on such a large scale and distilled in such a manner. The survey draws upon the expertise of all of Allen & Overy’s international offices and its huge network of relationship firms.

A key finding is that the UK is one of the most favourable jurisdictions in the world to carry out these types of transactions. At the other end of the scale, stands Continental Europe where a series of obstacles curb private leveraged M&A: sacrosanct works council rules, tight merger control regulations, limited ability to grant security (which de facto restricts the financing options) and, to some extent, foreign direct investment restrictions.

This comparative report provides quick advice to help plan the overall strategy for a leveraged transaction. The report covers the following key issues: witholding tax; financial assistance; security interests; clawback; merger control; foreign investment approval; employee rights. The report provides the answers in a unique synthesised form thanks to the simple but very effective colour-coding methodology.

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Further information
The Global Law Intelligence Unit is a faculty of expert Allen & Overy lawyers dedicated to cross-border law and to helping solve the puzzles of multi-jurisdictional law. The Unit draws its strength not only from the firm's 2,500 lawyers but from its formal collaborative global network of leading law firms. The Unit's revolutionary methodology means that massive volumes of comparative legal analysis can be distilled into manageable data to help clients properly assess legal risk.

Learn more about our global corporate, leveraged finance and private equity practices.