---
title: "Was kostet Ihre Transaktion an Honoraren?"
description: "Honorare bei US-Transaktionen, keine Kaufpreise: Berater, Anw\u00e4lte, B\u00f6rsengang, Platzierung und Chapter 11 aus Einreichungen und Umfragen."
site: Deal Cost Index
content_updated: 2026-10-29
license: CC BY 4.0
html: https://dealcostindex.com/index-de.html
---
Honorare bei US-Transaktionen

# Was kostet Ihre Transaktion an Honoraren?

Der Deal Cost Index misst, was Unternehmen an Investmentbanken, Anwälten, Prüfern, Konsortialbanken und Datenraum-Anbietern zahlen, um eine Transaktion abzuschließen. Kaufpreise, Bewertungsmultiplikatoren und Finanzierungskosten sind nicht Gegenstand dieser Seite.

Geben Sie Ihre Transaktion ein, um die Honorare für Beratung, Recht, Rechnungslegung, Due Diligence und Datenraum zu projizieren. Jeder Posten ist aus öffentlichen Einreichungen, veröffentlichten Umfragen oder Preislisten der Anbieter projiziert und verlinkt seine Quelle.

Gebaut aus

660

Fusionsunterlagen und Übernahmeangebote

502

IPO-Prospekte

52,571

private Platzierungen (Form D)

47

Chapter-11-Verfahren

132

veröffentlichte Umfragewerte

Einreichungen bei der SEC und bei US-Insolvenzgerichten, 2023–2026.

Projizierte Honorare

$4.4M–$10.7M — Verkauf (Sell-side M&A) · $250M

- M&A advisor fees 93%

- Deal counsel 5%

- Sell-side quality of earnings 2%

- Virtual data room <1%

Summe der 4 als einbezogen markierten Posten, projiziert aus öffentlichen Einreichungen, veröffentlichten Umfragen und Preislisten der Anbieter. Grau dargestellte Posten dienen der Orientierung und zählen nicht zur Summe.

Eine Projektion, kein Angebot. Diese Spanne ist aus öffentlich zugänglichen Angaben zu anderen Transaktionen abgeleitet. Die Honorare Ihrer Transaktion hängen von deren Sachverhalt ab, von den beauftragten Firmen und davon, was Sie verhandeln. Nichts hiervon ist eine Beratung in finanziellen, rechtlichen, steuerlichen oder Anlagefragen. [Nutzungsbedingungen und Haftungsausschluss](https://dealcostindex.com/terms.html)

continues to $25M →

$0$9.16M

| Kostenart | Mittlere Hälfte und Median | Spanne |
|---|---|---|
| M&A advisor fees (all target-side advisors)Filed 58 DatensätzeTotal target-side advisor fees as a share of deal value in 58 disclosed deals ($125M–$500M): median 2.60%, middle half 1.73%–3.66%. Public-target deals; private deals of this size usually pay at least as much. |  | $4.32M–$9.16MMedian $6.5M |
| Fairness opinion fee (part of the advisor fee)Filed 45 Datensätze · Nur als ReferenzPortion payable on delivery of the opinion, from the same filings. Usually credited against the success fee. |  | $1M–$1.75MMedian $1M |
| Lehman / Double Lehman formulaFormula · Nur als Referenz5-4-3-2-1 and 10-8-6-4-2 schedules applied to $250M. Shown for reference; this is not an observed fee. |  | $2.6M–$5.2MMedian $3.9M |
| Monthly retainerSurvey · Nur als Referenz$5,000–$10K a month is the most common retainer, over 6 months; most advisors credit it against the success fee. [Firmex 2025](https://4804905.fs1.hubspotusercontent-na1.net/hubfs/4804905/Firmex-MAFeeGuide-Global-25.pdf) |  | $30K–$60KMedian $45K |
| Deal counselSurveyExternal legal spend per M&A deal reported by US private equity firms (average $353K, range $50K–$1M, 2020 data). Large-firm partners in New York averaged $1,972/hour in H1 2025. [Apperio 2020](https://www.persuit.com/learn/typical-manda-deals-cost-us-private-equity-353k-in-legal-spend-and-other-outside-counsel-statistics-from-us-based-pe-firms) [Wolters Kluwer ELM Solutions via B 2025](https://www.nasdaq.com/press-release/wolters-kluwer-study-sets-stage-2026-sharp-contrasts-regional-law-firm-rates-and) |  | $50K–$1MMedian $353K |
| Sell-side quality of earningsSurveyPublished price ranges for a >$150M deal: boutique providers $25K–$50K, buy-side QoE $150K–$400K, sell-side priced 10–30% higher. [BD Emerson 2026](https://www.bdemerson.com/article/quality-of-earnings-report-cost) [Bedrock Quality of Earnings 2026](https://www.bedrockqoe.com/insights/quality-of-earnings-report-cost) |  | $25K–$520KMedian $114K |
| Virtual data roomList price 8 DatensätzeMiddle half of list-price totals from 8 vendors whose published plans cover 20 GB and 2 admins for 6 months, billed monthly where offered. Plans are priced for the months billed, not the months used. [How data room totals are calculated](https://dealcostindex.com/vdr.html#billing-basis) |  | $2,499–$18KMedian $3,764 |
| R&W insuranceSurvey · Nur als ReferenzLimit 10% of EV ($25M) × rate on line 2–3.5% (Q4 2025 average 3.23%), plus underwriting fee and up to 6% surplus lines tax. [Gallagher 2025](https://www.ajg.com/-/media/files/gallagher/us/news-and-insights/2025/transactional-risk-2025-review-and-2026-outlook.pdf) [Vanbridge 2024](https://www.vanbridge.com/wp-content/uploads/2024/02/2024-Vanbridge-Reps-and-Warranties-Reference-Guide.pdf) [Vanbridge 2024](https://www.vanbridge.com/wp-content/uploads/2024/02/2024-Vanbridge-Reps-and-Warranties-Reference-Guide.pdf) Typically paid by the buyer; sometimes split. |  | $535K–$978KMedian $850K |
| Escrow held back (not a fee)Survey · Nur als ReferenzCash withheld from proceeds, typically released after ~12 months: median 2.8% of deal value with R&W insurance, 10% without. [DealLawyers.com 2026](https://www.deallawyers.com/blog/2026/04/study-private-target-deal-terms-10.html) [SRS Acquiom 2025](https://www.srsacquiom.com/our-insights/ma-deals/) Typically paid by the buyer; sometimes split. |  | $7M–$25MMedian $7M |
| Gesamt |  | $4.4M–$10.7MSumme der Medianwerte $6.97M |

Die Herleitung je Posten, die Hinweise darunter und die Tabellen der verwendeten Vergleichsfälle bleiben englisch: sie zitieren und referieren die Einreichungen, aus denen sie stammen, und Zitate werden auf dieser Seite nicht übersetzt. Maßgeblich ist die englische Fassung dieser Seite.

## Public-company deals used ($125M–$500M)

Each fee is taken from the filing; hover over a fee to see the sentence it comes from. Deal values marked “computed” are the cash price per share multiplied by shares outstanding.

| Target | Deal value | Advisor | Fee | % of value | Source |
|---|---|---|---|---|---|
| Greenbacker Renewable Energy | $375M — stated | Wells Fargo Securities | $7M | 1.87% | [DEFM14A Oct 2026](https://www.sec.gov/Archives/edgar/data/1563922/000175392626001969/g085989_defm14a.htm) |
| Nathans Famous, Inc. | $418M — computed | Jefferies | $9.6M | 2.30% | [DEFM14A Sep 2026](https://www.sec.gov/Archives/edgar/data/69733/000110465926110393/tm267612-2_defm14a.htm) |
| Luxfer Holdings PLC | $465M — computed | Deutsche Bank | $8M | 1.72% | [DEFM14A Sep 2026](https://www.sec.gov/Archives/edgar/data/1096056/000207709626000260/ea0303080-02.htm) |
| AstroNova, Inc. — acquired by Arcline | $225M — computed | Rockefeller | $4.2M | 1.87% | [DEFM14A Jul 2026](https://www.sec.gov/Archives/edgar/data/8146/000119312526326441/d140981ddefm14a.htm) |
| Simulations Plus, Inc. | $375M — stated | Morgan Stanley | $11M | 2.93% | [DEFM14A Jul 2026](https://www.sec.gov/Archives/edgar/data/1023459/000102345926000051/defm14a.htm) |
| Open Lending Corp — acquired by Anv | $236M — computed | FT | $8.7M | 3.68% | [SC 14D9 Jun 2026](https://www.sec.gov/Archives/edgar/data/1806201/000119312526286952/d140679dsc14d9.htm) |
| Cross Country Healthcare Inc. | $428M — computed | BofA Securities | $6.12M | 1.43% | [DEFM14A Jun 2026](https://www.sec.gov/Archives/edgar/data/1141103/000114036126025249/ny20073866x2_defm14a.htm) |
| XOMA Royalty Corp | $489M — computed | Leerink Partners | $18.4M | 3.76% | [DEFM14A Jun 2026](https://www.sec.gov/Archives/edgar/data/791908/000119312526266069/d137792ddefm14a.htm) |
| Sun Country Airlines Holdings, Inc. — acquired by Allegiant | $218M — computed | Goldman Sachs | $22.6M | 10.36% | [DEFM14A Mar 2026](https://www.sec.gov/Archives/edgar/data/1743907/000114036126012383/ny20068391x1_defm14a.htm) |
| Calavo Growers, Inc. — acquired by Mission Produce | $486M — stated | Jefferies | $12.5M | 2.57% | [DEFM14A Mar 2026](https://www.sec.gov/Archives/edgar/data/1133470/000119312526117814/d15959ddefm14a.htm) |
| Diamond Hill Investment Group, Inc. — acquired by First Eagle | $430M — computed | Broadhaven | $7M | 1.63% | [DEFM14A Jan 2026](https://www.sec.gov/Archives/edgar/data/909108/000114036126002681/ny20061565x2_defm14a.htm) |
| Crawford United Corporation — acquired by Spx | $300M — stated | Lake StreetStout | $2.4M | 0.80% | [DEFM14A Jan 2026](https://www.sec.gov/Archives/edgar/data/47307/000143774926000391/crawa20260103_defm14a.htm) |
| TrueCar, Inc. | $227M — computed | Morgan Stanley | $12.5M | 5.51% | [DEFM14A Nov 2025](https://www.sec.gov/Archives/edgar/data/1327318/000110465925115451/tm2528639-6_defm14a.htm) |
| WideOpenWest, Inc. — acquired by DigitalBridge and Crestview | $290M — stated | Centerview Partners | $19.4M | 6.69% | [DEFM14A Oct 2025](https://www.sec.gov/Archives/edgar/data/1701051/000110465925102255/tm2523589-7_defm14a.htm) |
| scPharmaceuticals Inc. | $285M — computed | Leerink Partners | $8.8M | 3.09% | [SC 14D9 Sep 2025](https://www.sec.gov/Archives/edgar/data/1604950/000119312525225023/d846289dsc14d9a.htm) |
| Potbelly Corporation — acquired by RaceTrac | $409M — computed | Piper Sandler | $6.9M | 1.69% | [SC 14D9 Sep 2025](https://www.sec.gov/Archives/edgar/data/1195734/000119312525213634/d936677dsc14d9.htm) |
| scPharmaceuticals Inc. | $285M — computed | Leerink Partners | $8.8M | 3.09% | [SC 14D9 Sep 2025](https://www.sec.gov/Archives/edgar/data/1604950/000119312525198383/d152074dsc14d9.htm) |
| Y-mAbs Therapeutics, Inc. — acquired by Serb | $354M — computed | Centerview Partners | $9.1M | 2.57% | [SC 14D9 Aug 2025](https://www.sec.gov/Archives/edgar/data/1722964/000110465925079582/tm2523645-2_sc14d9.htm) |
| DallasNews Corp | $150M — computed | J.P. Morgan | $5M | 3.34% | [DEFM14A Aug 2025](https://www.sec.gov/Archives/edgar/data/1413898/000119312525181885/d24897ddefm14a.htm) |
| iTeos Therapeutics, Inc. | $385M — computed | TD Cowen | $9.5M | 2.47% | [SC 14D9 Aug 2025](https://www.sec.gov/Archives/edgar/data/1808865/000119312525170952/d854787dsc14d9.htm) |
| CARGO Therapeutics, Inc. | $202M — computed | TD Cowen | $4.3M | 2.13% | [SC 14D9 Jul 2025](https://www.sec.gov/Archives/edgar/data/1966494/000119312525163464/d78481dsc14d9.htm) |
| Sage Therapeutics, Inc. — acquired by Supernus Pharmaceuticals | $452M — computed | Goldman Sachs | $14.7M | 3.25% | [SC 14D9 Jul 2025](https://www.sec.gov/Archives/edgar/data/1597553/000119312525155020/d63256dsc14d9.htm) |
| Verve Therapeutics, Inc. — acquired by Eli Lilly and Company | $267M — computed | Centerview PartnersGuggenheim Securities | $33.7M | 12.60% | [SC 14D9 Jun 2025](https://www.sec.gov/Archives/edgar/data/1840574/000119312525146127/d917975dsc14d9.htm) |
| PHX Minerals Inc. — acquired by WhiteHawk Energy | $162M — computed | RBCCMIntrepid | $4.25M | 2.62% | [SC 14D9 May 2025](https://www.sec.gov/Archives/edgar/data/315131/000110465925051830/tm2515778-1_sc14d9.htm) |
| Checkpoint Therapeutics, Inc. — acquired by Sun Pharmaceutical Industries (LW Securities engaged) | $475M — computed | Kroll | $400K | 0.08% | [DEFM14A Apr 2025](https://www.sec.gov/Archives/edgar/data/1651407/000110465925038082/tm252489-4_defm14a.htm) |
| Akoya Biosciences, Inc. — acquired by Quanterix Corporation | $199M — computed | Perella Weinberg Partners | $3.5M | 1.76% | [DEFM14A Apr 2025](https://www.sec.gov/Archives/edgar/data/1711933/000110465925035134/tm2510802-1_defm14a.htm) |
| 2seventy bio, Inc. — acquired by Bristol-Myers Squibb | $262M — computed | Goldman Sachs | $8.58M | 3.28% | [SC 14D9 Apr 2025](https://www.sec.gov/Archives/edgar/data/1860782/000114036125013644/ny20046860x1_sc14d9.htm) |
| Logility Supply Chain Solutions, Inc — acquired by Aptean | $478M — computed | Lazard | $9.8M | 2.05% | [DEFM14A Mar 2025](https://www.sec.gov/Archives/edgar/data/713425/000114036125006872/ny20042527x2_defm14a.htm) |
| Poseida Therapeutics, Inc. | $390M — computed | Centerview Partners | $25.5M | 6.54% | [SC 14D9 Dec 2024](https://www.sec.gov/Archives/edgar/data/1661460/000119312524286056/d871087dsc14d9a.htm) |
| Poseida Therapeutics, Inc. — acquired by Roche | $390M — computed | Centerview Partners | $25.5M | 6.54% | [SC 14D9 Dec 2024](https://www.sec.gov/Archives/edgar/data/1661460/000119312524273550/d901928dsc14d9.htm) |
| Universal Stainless & Alloy Products Inc | $456M — stated | TD Cowen | $8.1M | 1.78% | [DEFM14A Nov 2024](https://www.sec.gov/Archives/edgar/data/931584/000119312524267249/d842335ddefm14a.htm) |
| ARC Document Solutions, Inc. | $162M — stated | William Blair | $1M | 0.62% | [DEFM14A Oct 2024](https://www.sec.gov/Archives/edgar/data/1305168/000114036124043469/ny20035563x8_defm14a.htm) |
| Iteris, Inc. — acquired by Almaviva | $308M — computed | Morgan Stanley | $10.5M | 3.41% | [DEFM14A Sep 2024](https://www.sec.gov/Archives/edgar/data/350868/000114036124041589/ny20034699x2_defm14a.htm) |
| G1 Therapeutics, Inc. | $259M — computed | Centerview PartnersGuggenheim Securities | $16.9M | 6.54% | [SC 14D9 Aug 2024](https://www.sec.gov/Archives/edgar/data/1560241/000119312524203615/d856692dsc14d9.htm) |
| Desktop Metal, Inc. | $349M — computed | Stifel | $4.2M | 1.20% | [DEFM14A Aug 2024](https://www.sec.gov/Archives/edgar/data/1754820/000110465924089909/tm2420443-3_defm14a.htm) |
| The Aaron's Company, Inc. — acquired by Iqv | $310M — computed | J.P. Morgan | $10.1M | 3.26% | [DEFM14A Aug 2024](https://www.sec.gov/Archives/edgar/data/1821393/000119312524199465/d816734ddefm14a.htm) |
| Alimera Sciences, Inc. | $498M — computed | Perella Weinberg PartnersCenterview Partners | $18M | 3.62% | [DEFM14A Aug 2024](https://www.sec.gov/Archives/edgar/data/1267602/000110465924087307/tm2419772-3_defm14a.htm) |
| SilverBow Resources, Inc. — acquired by Crescent | $391M — computed | BofA SecuritiesEvercore | $32M | 8.18% | [DEFM14A Jun 2024](https://www.sec.gov/Archives/edgar/data/351817/000162828024030396/silverbow-defm14a.htm) |
| Whole Earth Brands, Inc. — acquired by Sababa | $211M — computed | JefferiesCiti | $13M | 6.17% | [DEFM14A Jun 2024](https://www.sec.gov/Archives/edgar/data/1753706/000114036124031141/ny20024121x13_defm14a.htm) |
| Transphorm, Inc. — acquired by Renesas | $323M — computed | BofA Securities | $6.21M | 1.92% | [DEFM14A Mar 2024](https://www.sec.gov/Archives/edgar/data/1715768/000119312524058005/d585789ddefm14a.htm) |

Showing 40 of 58, most recent first. The full list is on the dataset page.

## Die Datensätze

- [660M&A-BeraterhonorareFusionsunterlagen und Übernahmeangebote, 2023–2026. Honorare nach Transaktionsgröße, Staffel, Branche und Auftraggeber, der beim Abschluss fällige Teil und ein Profil jeder häufig tätigen Bank.](https://dealcostindex.com/ma-advisor-fees-de.html)

- [288AnwaltskostenKanzleien bei Börsengängen, Fusionen und Chapter-11-Verfahren: Rechtskosten im IPO, Stundensätze der Partner und ein Profil jeder häufig tätigen Kanzlei.](https://dealcostindex.com/legal-fees-de.html)

- [86Kosten der RechnungslegungPrüfer bei US-Börsengängen und die von Emittenten aufgeschlüsselten Kosten, Preise für Quality-of-Earnings-Analysen und ein Profil jeder häufig tätigen Prüfungsgesellschaft.](https://dealcostindex.com/accounting-fees-de.html)

- [502IPO-KostenEndgültige Prospekte. Übernahmeprovision sowie aufgeschlüsselte Kosten für Recht, Rechnungslegung, Druck und Listing.](https://dealcostindex.com/ipo-costs-de.html)

- [52,571PlatzierungsprovisionenPrivate Platzierungen nach Form D, 2023 Q1 bis 2026 Q3. Provisionen und Vermittlungsentgelte nach Größe, Wertpapierart und Branche.](https://dealcostindex.com/capital-raise-fees-de.html)

- [47Vergütungen im Chapter-11-VerfahrenGerichtsakten. Monatshonorare, Restrukturierungshonorare und Stundensätze der Berater der Schuldner.](https://dealcostindex.com/restructuring-fees-de.html)

- [132Due Diligence, Versicherung und TreuhandVeröffentlichte Umfragen und Preislisten für Kosten, die Einreichungen nicht transaktionsweise offenlegen.](https://dealcostindex.com/diligence-insurance-de.html)

- [25DatenräumeListenpreise, Schätzungen Dritter und angegebene Zertifizierungen, berechnet für Ihren Raum.](https://dealcostindex.com/vdr-de.html)

- [639Verzeichnis der BeraterBanken, Kanzleien und Prüfer aus 27 öffentlichen Listen, die Grundlage jeder Staffel im Rechner.](https://dealcostindex.com/providers-de.html)

## Zitierweise

Zitieren Sie die verwendete Seite als Deal Cost Index, „<Seitentitel>“, Datenversion 2026.10.3, mit Link. Die zugrunde liegenden Daten stehen unter [CC BY 4.0](https://creativecommons.org/licenses/by/4.0/) und sind als CSV auf der [Methodikseite](https://dealcostindex.com/methodology-de.html) verfügbar; jede Zeile behält den Link auf die Einreichung oder Veröffentlichung, aus der sie stammt.

Deal Cost Index. Data: CC BY 4.0.