FactSet MergerMetrics
FactSet MergerMetrics is a unique tool for analyzing Merger Agreements and lets you find precedent language for key negotiated provisions.
Unlike FactSet Mergerstat, which tracks global M&A, MergerMetrics is focused exclusively on full acquisitions of U.S. public targets and only includes transactions where an acquirer who holds less than 50% of a U.S. public target at announcement is seeking to acquire 100% of that company. In addition, MergerMetrics includes selected “Private Agreement” transactions in which one of the parties filed the agreement as an exhibit to a 10-K or other filing after the fact.
You can access FactSet MergerMetrics through FactSet applications and the FactSet MergerMetrics website.
MergerMetrics includes transactions from 2003 through today.
Dataset Features:
- Advisory fees and source document linking
- Target and acquirer termination fees and specifically negotiated merger agreement provisions such as financing conditions, go-shop provisions, and matching offer periods
- Deal protection provisions (voting agreements, walkaway provisions, collars) and other unique search items (e.g., deals where the target has a controlling shareholder or unequal voting rights or deals where a special committee was formed by the target's board and which legal and financial advisors represented the special committee)
- Keyword searches against all the SEC documents associated with each transaction
- Single-click access to create compilations of particular sections or definitions from a given set of merger agreements or a group of fairness opinions
