Corporate/M&A
Discover what corporate/M&A means in legal practice: how lawyers guide mergers and acquisitions, what they do day to day, the career ladder, and how students prepare for an internship or traineeship.
Introduction
What is corporate/M&A?
Corporate/M&A, often called corporate law or mergers and acquisitions in the Netherlands, is the practice area that guides the purchase and sale of companies: from the first negotiation to the final transfer of shares or assets. It is one of the most visible and sought-after specialisations in the legal profession.
In an acquisition, the lawyer works out the transaction structure, coordinates the due diligence investigation into the target company, and negotiates the purchase agreement, the SPA (Share Purchase Agreement) or APA (Asset Purchase Agreement). The broader field of corporate law also falls under this practice area: incorporating companies, corporate governance, and the legal structure of a business.
Corporate/M&A lawyers work closely with other practice groups: banking and finance for the acquisition financing, competition law for the merger filing, and tax law for structuring the deal.
The practice
Three settings where you practise this field
The breakdown below mainly says something about the scale and type of transaction you work on, not about the quality of the work.
At international firms you work on large, often cross-border deals with dozens of advisors at once. At Dutch full-service firms, corporate/M&A often forms the core of the practice, with a strong link to banking and finance. At boutique and regional firms you work on smaller-scale, often domestic transactions, taking on more responsibility earlier in your career.
What they do
What corporate/M&A lawyers do
The work differs by deal, but the building blocks below come up in almost every transaction. A lawyer often works on several acquisitions at once, each at a different stage.
Legal framework
The key legislation
Corporate/M&A revolves around a limited set of core rules from corporate law that keep recurring, even though the substance differs greatly from deal to deal.
Practice areas
The main sub-areas
Corporate/M&A is broad, and most lawyers specialise within one of the sub-areas below.
Step by step
How an acquisition comes together
Most acquisitions follow a similar path, from the first term sheet to closing. On larger deals, due diligence and negotiation often run in parallel.
Who does which step depends on seniority. Junior lawyers carry out the due diligence investigation and work out the documentation in detail, while senior lawyers lead the negotiation and set the deal structure.
Closing is often the most tense moment: every condition precedent must be checked off, every signature must be in, and only then is the transfer actually completed.
Roles
Roles in the corporate/M&A practice
Each step up the ladder shifts the emphasis further from carrying out due diligence toward setting deal strategy and managing the client relationship. Most lawyers climb this ladder at the same firm, though moving between firms at any level is common.
Student intern
Supports lawyers during an internship alongside or after studies.
Trainee lawyer
The mandatory three-year traineeship straight after graduating.
Lawyer / Associate
Handles matters independently after being admitted to the bar.
Senior Associate
Leads more complex transactions and mentors junior lawyers.
Partner
Holds ultimate responsibility for clients and the practice group.
Career timeline
How long each step takes
The legal profession has a fixed statutory basis for the first step: a traineeship in the Netherlands generally lasts three years and is mandatory for every starting lawyer, regardless of practice area. After that, the pace of progression depends heavily on the firm and on individual performance.
After the traineeship, the emphasis shifts from carrying out due diligence to independently leading transactions. Making partner takes more than ten years of legal experience at most firms, and is often accompanied by a formal nomination by the existing partners.
Not everyone climbs the whole ladder at the same firm. Some lawyers move into business after a few years, for example as in-house counsel in a company's corporate department.
| Level | Typical time in role |
|---|---|
| Advocaat-stagiair | 3 years, mandatory by law |
| Advocaat / Associate | 3 to 5 years |
| Senior Associate | 2 to 4 years |
| Partner | top level, 10+ years in total |
Compensation
Compensation in the legal profession
Compensation in the legal profession usually consists of a fixed salary that rises with seniority, and at some firms a variable bonus tied to individual and firm performance. Corporate/M&A does not differ materially in pay structure from other practice areas at the same firm.
The ranges below are general indications for larger Dutch and international firms, and do not apply specifically to this practice area or to any of the firms named on this page. Actual pay varies by firm, region and role, and is listed where known in the individual vacancies on this site.
From partner level, the nature of compensation changes. A partner typically shares in the firm's profits rather than receiving a fixed salary, which ties pay more closely to their own client portfolio and the results of the practice group as a whole.
| Level | Indicative range |
|---|---|
| Advocaat-stagiair | €60.000 – €75.000 |
| Advocaat / Associate | €75.000 – €110.000 |
| Senior Associate | €120.000 – €160.000 |
| Partner | €200.000 – €500.000+ |
Ranges are general indications for the Dutch legal profession, not specific to this practice area or a particular firm. See the vacancy pages for concrete salary figures where a firm publishes them.
A day in the life
A typical day for a junior lawyer
The day often starts with reviewing due diligence findings or the counterparty's comments on a draft purchase agreement. On quieter days, much of the time goes into working out warranties, indemnities and the other SPA provisions.
A corporate/M&A lawyer often works on several transactions at once, each at a different stage. That requires switching quickly between matters and keeping track of dozens of open action points per deal.
On completion day, the pace shifts entirely. The lawyer closes out the last conditions precedent, chases missing signatures, and coordinates with all parties on the exact moment of transfer.
Juniors
What trainee lawyers do
Junior lawyers carry much of the research and drafting work a transaction rests on, under the supervision of a supervising partner.
- Carrying out due diligence research
- Drafting draft purchase agreements
- Preparing corporate documentation
- Managing the data room
- Drafting advice memos
- Tracking deadlines and action points
- Sitting in on negotiations
- Correspondence with the counterparty
Much of this work goes back and forth several times between trainee and supervisor before a document goes to the counterparty. That repetition is not inefficiency, it is how a junior lawyer learns which clauses in a purchase agreement really matter.
Skills
Skills you will need
Legal knowledge gets the most attention in training, but the lawyers who stay longest often stand out through commercial judgement: understanding what the client is really trying to achieve with a transaction, not just what the contract literally says.
Getting in
How you get into corporate/M&A
Most routes run through a law master's with a specialisation in corporate law, followed by an internship or traineeship at a firm. An affinity with deal work and numbers is a plus, but not a requirement.
Preparation
How to prepare as a student
Preparation works best when it starts well before the application. Firms test not only legal knowledge, but also whether someone can explain a deal structure clearly, both verbally and on paper.
Compare
Corporate/M&A versus other practice areas
These practice areas often overlap in the same matters, which is why students sometimes mix them up. The distinction mainly lies in what exactly is being arranged, and in which phase of the transaction the work takes place.
Corporate/M&A vs Banking & Finance
Corporate/M&A structures the acquisition itself. Banking & finance arranges the loan the buyer uses to pay for that acquisition.
Corporate/M&A vs Commercial
Corporate/M&A handles the one-off acquisition of a company. Commercial handles the ongoing trade contracts through which that company does business.
Corporate/M&A vs Antitrust, Competition & Trade
Antitrust assesses whether an acquisition harms competition. Corporate/M&A separately structures the transaction itself.
Corporate/M&A vs Tax
Tax law assesses the tax consequences of a transaction structure. Corporate/M&A handles the underlying purchase agreement itself.
Corporate/M&A vs Restructuring & Insolvency
Corporate/M&A guides the healthy sale of a company. Restructuring & Insolvency steps in once a company is in financial difficulty.
Employers
Firms with a corporate/M&A practice in the Netherlands
A selection of firms with a verified corporate/M&A practice in the Netherlands. We only name firms whose practice group has been confirmed.
Corporate/M&A is the most common practice group in the legal profession: from large international firms to regional firms serving the SME segment.
International firms
Clifford Chance
Linklaters
Freshfields
A&O Shearman
DLA Piper
CMS
Hogan Lovells
Norton Rose FulbrightDutch full-service firms
De Brauw Blackstone Westbroek
Houthoff
NautaDutilh
Stibbe
Loyens & Loeff
HVG Law
LexenceBoutique and regional firms
Kennedy Van der Laan
Stek
Banning
BarentsKrans
Dirkzwager
Hekkelman
Holla
Ploum
TRIP Advocaten Notarissen
Van Benthem & Keulen
Wijn & StaelVacancies
Corporate/M&A vacancies
We only show real, current openings with a link to the employer. Internships, traineeships and lawyer roles appear here. In the meantime, browse all current vacancies.
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Recommended resources
FAQ
Frequently asked questions
What is corporate/M&A?
Corporate/M&A, often called corporate law or mergers and acquisitions in the Netherlands, is the practice area that guides the purchase and sale of companies, from the first negotiation to the transfer of shares or assets.
What is the difference between a share deal and an asset deal?
In a share deal, the buyer purchases the shares of the company, including all its assets and liabilities. In an asset deal, the buyer purchases specific assets and possibly liabilities, without taking over the company itself.
What does a corporate/M&A lawyer do day to day?
Corporate/M&A lawyers coordinate due diligence, draft and negotiate purchase agreements, structure the transaction, and support clients through closing.
What is due diligence and why does it matter?
Due diligence is the investigation into the legal, financial and operational risks of the target company before an acquisition is completed. It helps the buyer identify unexpected risks and address them in the purchase agreement.
What is an SPA?
An SPA (Share Purchase Agreement) or APA (Asset Purchase Agreement) is the purchase agreement that sets out the terms of an acquisition, including price, warranties, indemnities and conditions precedent.
When must an acquisition be notified to the ACM?
Larger acquisitions must be notified in advance to the Authority for Consumers and Markets or the European Commission if the companies involved exceed certain turnover thresholds, before the transaction may be completed.
What skills do you need for corporate/M&A?
Precise contract drafting, commercial judgement, clear negotiation skills, attention to detail, and the ability to manage several transactions at once under deadlines.
How do I get into this field as a student?
Take electives in corporate law, do an internship at a firm with a corporate/M&A practice, and apply to structured traineeships that offer a rotation in this field.
Related
Related legal paths
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