Latest / The Acquisition Talk with Fexingo: Mergers, Buyouts, and Business Sales for Operators
How Reverse Break Fees Reshaped M&A Deal Certainty
In this episode of The Acquisition Talk, Lucas and Luna unpack the rise of reverse termination fees in M&A — why sellers now demand them, how they shift risk away from the buyer, and a specific case where a $200 million reverse break fee turned a shaky deal into a done deal. They walk through the mechanics: what a reverse termination fee is, how it differs from the traditional buyer-side break fee, and why the balance of power in deal negotiations has tilted since 2022. Along the way, they discuss the collapse of the $60 billion Adobe Figma acquisition as a cautionary tale about regulatory…
The skinny
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