Dealmakers Predict More M&A Disputes Globally Amid Rebounding Deal Activity, BRG's M&A Disputes Report 2025 Finds

Financial services industry saw sharp uptick in disputes, with more to come in 2025

EMERYVILLE, Calif., March 18, 2025 /PRNewswire/ -- Dealmakers around the world expect to see more mergers and acquisitions (M&A) disputes in the year ahead despite renewed confidence that the deal market will perform better in 2025, according to global expert services and consulting firm BRG's M&A Disputes Report 2025, released today. Rising geopolitical tensions, ongoing antitrust scrutiny and economic volatility stemming from tariffs all could push deals into dispute territory in the coming months.

Dealmakers' attempts to control for performance fluctuations and financial risks in an uncertain economic climate may have contributed to increased dispute exposure in 2024. Deal terms like purchase price agreements, put/call options and indemnity provisions were amongst the most prevalent contractual factors in last year's disputes. Looking ahead, nearly one-third of respondents expect earnout provisions mitigating risk to feature prominently in disputes this year. 

"From improved financing conditions and lower interest rates to uncertainty stemming from escalating geopolitical tensions and policy shifts, one thing is clear: Dealmakers are grappling with a markedly different M&A environment than they were in our last annual report," said BRG Managing Director Mustafa Hadi, founder and editor of the annual BRG publication. "Our latest research finds that even as buyers and sellers prepare for an upswing in activity, they'll need to address a complex array of ever-evolving dispute factors".

Now in its sixth year, BRG's M&A Disputes Report draws on insights from BRG experts, qualitative interviews with leading disputes and corporate lawyers, and a survey of more than 200 attorneys, private equity (PE) professionals and corporate finance advisors across Asia-Pacific (APAC); Europe, the Middle East and Africa (EMEA); North America; and Latin America. The report examines how macroeconomic and geopolitical trends are impacting the M&A market across industries and geographies, alongside predictions for how deals and disputes will take shape in the year ahead.

Amidst continued fallout from the 2023 banking crisis, 43% of respondents saw an increase in M&A dispute activity within the sector—the highest of any industry category and an increase of 10 percentage points from last year's report. Nearly half of dealmakers surveyed also anticipate further increases in financial services disputes in 2025 as M&A activity picks up and regulations relax.

Other key takeaways from the report include:

• EMEA is expected to see the most dispute activity among regions due to ongoing regulatory challenges. For the second year in a row, it was the leading region driving increased dispute volumes—particularly among larger deals.
• PE involvement in deals is increasing dispute risks. Even though PE firms are maintaining high due diligence standards, they are becoming more comfortable with litigation to enforce contract provisions.

"While geopolitical, economic, regulatory and contractual dispute factors may vary across regions and industries, BRG's research has revealed time and time again the importance of having a comprehensive dispute mitigation strategy when pursuing M&A deals in this complex environment," said BRG Principal Executive Officer and President Tri MacDonald. "This report offers dealmakers valuable insights into the elements that can contribute to—or protect against—costly and time-consuming M&A disputes".

Download a copy of BRG's M&A Disputes Report 2025.

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SOURCE BRG