---
title: "Combien votre op\u00e9ration co\u00fbtera-t-elle en honoraires ?"
description: "Honoraires sur les op\u00e9rations am\u00e9ricaines, pas les prix d'achat : conseil, juridique, introduction en bourse, placement et Chapter 11."
site: Deal Cost Index
content_updated: 2026-10-29
license: CC BY 4.0
html: https://dealcostindex.com/index-fr.html
---
Honoraires sur les opérations américaines

# Combien votre opération coûtera-t-elle en honoraires ?

Le Deal Cost Index mesure ce que les entreprises paient aux banques d'affaires, aux avocats, aux auditeurs, aux banques de placement et aux fournisseurs de salles de données pour mener une opération à son terme. Les prix d'achat, les multiples de valorisation et le coût du financement ne relèvent pas de ce site.

Renseignez votre opération pour projeter les honoraires de conseil, juridiques, comptables, de due diligence et de salle de données. Chaque poste est projeté à partir de documents publics, d'enquêtes publiées ou de tarifs de fournisseurs, et renvoie à sa source.

Construit à partir de

660

documents de fusion et offres publiques

502

prospectus d'introduction

52,571

levées privées (Form D)

47

procédures Chapter 11

132

valeurs d'enquêtes publiées

Documents déposés auprès de la SEC et des tribunaux des faillites américains, 2023–2026.

Honoraires projetés

$4.4M–$10.7M — Cession (côté vendeur) · $250M

- M&A advisor fees 93%

- Deal counsel 5%

- Sell-side quality of earnings 2%

- Virtual data room <1%

Somme des 4 postes marqués comme inclus, projetée à partir de documents publics, enquêtes publiées et tarifs des fournisseurs. Les postes en gris sont donnés pour référence et ne sont pas additionnés.

Une projection, pas un devis. Cette fourchette est dérivée d'informations publiques relatives à d'autres opérations. Les honoraires de votre opération dépendront de ses faits, des cabinets que vous mandatez et de ce que vous négociez. Rien ici ne constitue un conseil financier, juridique, fiscal ou en investissement. [Conditions et avertissement](https://dealcostindex.com/terms.html)

continues to $25M →

$0$9.16M

| Poste | Moitié centrale et médiane | Fourchette |
|---|---|---|
| M&A advisor fees (all target-side advisors)Filed 58 enregistrementsTotal 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–$9.16Mmédiane $6.5M |
| Fairness opinion fee (part of the advisor fee)Filed 45 enregistrements · Pour référence seulementPortion payable on delivery of the opinion, from the same filings. Usually credited against the success fee. |  | $1M–$1.75Mmédiane $1M |
| Lehman / Double Lehman formulaFormula · Pour référence seulement5-4-3-2-1 and 10-8-6-4-2 schedules applied to $250M. Shown for reference; this is not an observed fee. |  | $2.6M–$5.2Mmédiane $3.9M |
| Monthly retainerSurvey · Pour référence seulement$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–$60Kmédiane $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–$1Mmédiane $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–$520Kmédiane $114K |
| Virtual data roomList price 8 enregistrementsMiddle 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–$18Kmédiane $3,764 |
| R&W insuranceSurvey · Pour référence seulementLimit 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–$978Kmédiane $850K |
| Escrow held back (not a fee)Survey · Pour référence seulementCash 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–$25Mmédiane $7M |
| Total |  | $4.4M–$10.7MSomme des médianes $6.97M |

Le fondement de chaque poste, les notes qui l'accompagnent et les tableaux des opérations comparables restent en anglais : ils citent et paraphrasent les documents dont ils proviennent, et les citations ne sont pas traduites sur ce site. La version anglaise de cette page fait foi.

## 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.

## Les jeux de données

- [660Honoraires de conseil M&ADocuments de fusion et offres publiques, 2023–2026. Honoraires par taille d'opération, par niveau de cabinet, par secteur et par client, part payable au closing et une fiche par banque fréquente.](https://dealcostindex.com/ma-advisor-fees-fr.html)

- [288Frais juridiquesCabinets intervenant sur les introductions en bourse, les fusions et les procédures Chapter 11 : frais juridiques d'introduction, taux horaires des associés et une fiche par cabinet fréquent.](https://dealcostindex.com/legal-fees-fr.html)

- [86Frais comptablesAuditeurs des introductions américaines et frais comptables détaillés par les émetteurs, prix des revues de qualité des résultats et une fiche par cabinet d'audit fréquent.](https://dealcostindex.com/accounting-fees-fr.html)

- [502Coûts d'introduction en bourseProspectus définitifs. Commission de placement et frais juridiques, comptables, d'impression et de cotation détaillés.](https://dealcostindex.com/ipo-costs-fr.html)

- [52,571Commissions de placementLevées privées déclarées en Form D, de 2023 Q1 à 2026 Q3. Commissions et frais d'apporteur par taille, par titre et par secteur.](https://dealcostindex.com/capital-raise-fees-fr.html)

- [47Rémunérations en Chapter 11Dossiers des tribunaux. Honoraires mensuels, honoraires de restructuration et taux horaires des intervenants du débiteur.](https://dealcostindex.com/restructuring-fees-fr.html)

- [132Due diligence, assurance et séquestreEnquêtes publiées et tarifs de cabinets pour les coûts que les documents réglementaires ne publient pas opération par opération.](https://dealcostindex.com/diligence-insurance-fr.html)

- [25Salles de donnéesPrix publics, estimations de tiers et certifications déclarées, tarifés pour votre salle.](https://dealcostindex.com/vdr-fr.html)

- [639Annuaire des conseilsBanques, cabinets d'avocats et auditeurs issus de 27 listes publiques, la base de chaque niveau dans le calculateur.](https://dealcostindex.com/providers-fr.html)

## Citer l'index

Citez la page utilisée sous la forme Deal Cost Index, « <titre de la page> », version des données 2026.10.3, avec un lien. Les données sous-jacentes sont sous licence [CC BY 4.0](https://creativecommons.org/licenses/by/4.0/) et téléchargeables en CSV depuis la [page méthodologie](https://dealcostindex.com/methodology-fr.html) ; chaque ligne conserve le lien vers le document ou la publication dont elle provient.

Deal Cost Index. Data: CC BY 4.0.