M&A Transactions in 2026

Do they really look the same as they did 10 years ago?

At first glance, one might think so. The contractual structures remain largely unchanged, signing and closing continue to present significant technical challenges, and the underlying business objectives often sound familiar.

And yet, over the past decade, much has fundamentally changed. What has evolved is not risk management itself, but the regulatory and operational environment in which M&A transactions are now executed. In practice, this shift is reflected, among others, in:

• the way transactions are conducted, increasingly within fully digital environments, affecting process organisation, allocation of responsibilities and the assessment of the legal effectiveness of transactional actions;
• the expanded role of legal advisers, which today goes beyond document preparation and includes active support in navigating complex technological and regulatory processes;
• the approach to transactional data analysis, where AI-based tools enable work at scale and significantly influence project timelines as well as the manner in which risks are identified and assessed;
• growing regulatory challenges resulting from gold-plating, which is no longer a marginal phenomenon and increasingly requires effective legal and structural solutions. In practice, this means the introduction by EU Member States of additional obligations, procedures and restrictions exceeding the minimum requirements of EU law - often in areas critical to M&A transactions;
• the increasing importance of coordinated international legal advice, driven by the need for in-depth understanding of local legal regimes and regulatory practices across individual jurisdictions.

For businesses, these developments have very tangible consequences: differing disclosure obligations, varying approaches of supervisory authorities, additional approvals, and extended transaction timelines - even within the framework of regulations that are, in theory, harmonised. As a result, cross-border transactions can increasingly no longer be executed based on a single, uniform model. Effective M&A today requires parallel workstreams across multiple jurisdictions and a genuine understanding of local legal and regulatory frameworks.

As an international law firm operating across numerous European markets, we support clients precisely at this level by providing coordinated, multi-jurisdictional legal advice and enabling consistent transaction execution despite growing regulatory fragmentation.

This approach is further supported by the use of modern technologies, including AI-based solutions enhancing data analysis and overall transaction efficiency. For this reason, M&A is today less frequently a purely legal project and increasingly a strategic process, combining regulatory, technological and business considerations.

And it is precisely at this intersection that the success of transactions is now determined. 

If you have any questions, do not hesitate to contact us. Make better decisions when it counts.