Senior M&A Partner Frank Aquila and associate Michael Anderson co-authored an article for the October 2025 edition of The M&A Lawyer exploring trends across private-target M&A deals. They highlight a shift toward more dynamic deal structures and discuss key evolutions in escrow, PPA, and indemnification provisions based on data analysis from thousands of private-target M&A transactions from the past five years.
“The data showing record-high median reps and warranties claims and evolving breach patterns underscores the importance of thoughtful risk assessment and mitigation strategies that account for both frequency and severity of potential post-closing issues in an M&A transaction,” the authors write. “The future of private M&A will likely see continued innovation in deal structures as parties seek to balance the competing demands of certainty and flexibility, upfront consideration, performance-based payments, comprehensive protection and transaction efficiency.”
Download the article.