Distressed M&A Transaction (Spain)

The legal considerations of a distressed merger and acquisition (M&A) transaction necessarily vary depending on the level of distress suffered by the relevant target, which is a consequence of its shortfall in liquidity to pay off its current debts. Targets of these transactions are gradually running out of breathing space. The distressed transaction may occur during different stages of this timeline of progressive deterioration.

This article first appeared in Practical Law, and is reproduced by kind permission of the publication.