• M&A Monitor 2021

    Shedding light on M&A in Belgium


M&A Monitor 2021

03 May 2021

This report was prepared by Mathieu Luypaert, Professor of Corporate  Finance and M&A at Vlerick Business School, and Gianni Spolverato, Doctoral Researcher at Vlerick Business School.

The authors thank all of the survey respondents for their participation and Hugo Bovesse, Veerle Catry, Wouter De Maeseneire, Marie Depelssemaker, Dominic Dhaene, Wannes Gheysen, Sophie Manigart, Miguel Meuleman, Laurent Renerken, Hans Vanoorbeek, Alexander Veithen and David Veredas for their valuable input.


  • Preface 
  • Method 
  • About the respondents
  • The evolution of the Belgian M&A market 
  • Motives
  • Valuation
  • Deal structuring & financing
  • Deal process
  • Concluding thoughts