The disruption linked to COVID-19 already affects the global economy significantly, including M&A transactions in Europe and across the globe. On the regulatory side, many deals face challenges caused by national authorities' reduced capacities, while some authorities struggle to uphold business as usual. On the other hand, concerns about investors taking advantage of the volatility or undervaluation of European stock markets by acquiring valuable assets are widespread in Europe. Against this backdrop, the European Commission published a guidance note "to ensure a strong EU-wide approach to foreign investment screening" in the current crisis, while various member states have already increased scrutiny or even prohibited certain foreign takeovers.