Earn-outs in a higher-rate environment: the one deal structure CFOs need to rethink

July 27, 2026 · 5 min · Free, with full transcript

Earn-outs were already one of the most misunderstood tools in M&A deal structuring. In a world where the cost of capital has reset structurally upward, their mechanics, risks, and tradeoffs look meaningfully different than they did in the near-zero rate era.