I read a lot of M&A deal term summaries. While I really appreciate the knowledge gleaned from these reports, they all suffer from the same problems: They are usually biased toward publically filed transactions and those particular deals serviced by the particular bank or law firm whom is author of the report.
Today, Shareholder Representative Services (SRS) is releasing their 2010 SRS M&A Deal Terms Study, which is a comprehensive analysis of deal terms from a sample of the more than 100 transactions for which SRS serves as the shareholder representative.
The underlying pool of deals differs in important ways from those analyzed by other similar studies. The transaction agreements analyzed by SRS generally were not publicly filed and are a good representation of what is happening today in venture-backed M&A.
This study will be the first of a series of information products from SRS designed to leverage their expertise and knowledge to help their customers in their deals. Future offerings will include data regarding what actually happens, long-term, with escrows and earnouts along with an analysis of claims made against the target company.