2 minute read | September.23.2025
After a challenging two years, signals indicate that the French M&A market is positioning for recovery. Macroeconomic stabilization, a marginal decrease in interest rates, growing confidence in encouraging signals from Asia, and opportunities emerging with quality assets have all contributed to improved investor sentiment.
Despite ongoing uncertainty due to conflicts in Ukraine and Gaza, as well as the current domestic political situation, investors continue to be drawn to France, the world’s seventh-largest economy. This sentiment was recently echoed by the founding partner of a prominent global fund, who declared to the press: “I love France.”
With robust energy, infrastructure, technology, finance, luxury, healthcare, agribusiness and aerospace sectors in particular, French companies remain highly sought after as acquisition targets. In early 2025, there was a clear disconnect between the outbound M&A activity of French companies and their attractiveness as acquisition targets: while French buyers became significantly less active internationally, interest from foreign investors in acquiring French companies increased sharply.
Orrick’s 2025 French M&A Outlook offers a guide to navigating this evolving landscape, addressing the complexities facing both domestic and international investors in France’s deal environment.
Drawing on our experience across all facets of the market, we break down the essential components for successful transactions in France: