Michael Brellochs
Rechtsanwalt (Lawyer), Attorney-at-Law (New York), Partner
Michael Brellochs is one of the leading Corporate/M&A lawyers in Germany. He has more than 20 years of experience advising on M&A transactions and corporate and securities law matters, in particular public takeovers, reorganizations, spin-offs, capital measures, squeeze-outs, delistings and joint ventures. He also assists boards on corporate governance matters and special situations (in particular strategic stakeholder matters, activism and takeover preparedness, capital markets compliance and crisis management). Michael frequently advises on transactions involving listed companies or financial institutions. He has extensive experience in multi-jurisdictional projects.
Projects
- Management Board of NÜRNBERGER Beteiligungs-AG
Advising the Management Board of NÜRNBERGER Beteiligungs-AG on takeover by Vienna Insurance Group AG - Assicurazioni Generali S.p.A.
Advising as part of a consortium on the acquisition of leading consolidator Viridium; previously advising Generali Deutschland on a carve-out in connection with the sale of its life insurance business in Germany to Viridium - Daimler Truck AG
Advising Daimler Truck AG on entering into a strategic alliance with Deutz AG on the development and distribution of heavy-duty engines and the contribution of an IP portfolio for medium-duty engines in kind in return for the issuance of Deutz shares in the amount of 4.19% - Else Kröner-Fresenius-Foundation
Advising on the reorganisation of the Fresenius-Group - Rhône Group / Maxam
Advising on the sale of Spanish munitions manufacturer Expal Systems S.A. to Rheinmetall AG - Two DAX companies
Advising on the strategic review of their Russian business operations - Brookfield Asset Management
Advising on the public takeover bid for alstria office REIT-AG - Befesa S.A.
Advising on the acquisition of US-based AZR group and on a capital increase from authorized capital, involving a private placement with institutional investors, to fund the acquisition of AZR - DAX company
Advising on implications under stock corporation law in connection with ESG-related codes of conduct - RIB Software SE
Advising on the public takeover bid by Schneider Electric - Optima Group
Advising on the public takeover bid for InTiCa Systems AG - Big-5 tech company
Advising on a worldwide ESG survey to identify ESG-related risks - MassMutual
Advising on the sale of OppenheimerFunds Inc. to Invesco - Kering
Advising on reducing its share in Puma SE by means of a cross-border dividend in kind, Puma SE’s conversion from a one-tier to a two-tier board structure and selling Puma shares as part of an accelerated book building - Andritz AG
Advising on the squeeze-out under stock corporation law at Schuler AG after public takeover offer - MDAX company
Advising in the intragroup cross-border merger of a key subsidiary, involving 10 countries - Panasonic
Advising on the sale of Vossloh-Schwabe Group - MDAX company
Advising in setting up an international matrix organisation - TKH Group N.V., Netherlands
Advising on the acquisition of German-Italian company Lakesight Technologies Gruppe - ARAG
Advising on the sale of its life insurance business to Frankfurter Leben Group - Hollard International, South Africa
Advising on setting up the joint venture “Social Impact Partners” with MunichRe - Augusta Technologie AG
Advising on a merger squeeze-out following the public takeover bid by TKH Group N.V. - HelloFresh GmbH
Advising on the company’s conversion into a stock corporation (AG) in preparation for its IPO - Underberg AG
Advising on the sale of Austrian listed company Gurktaler AG and the sale of 75% of the shares in Austrian listed company Schlumberger AG
Distinctions
- Recommended for M&A, Corporate and Securities Law
Chambers (high-end capability), Legal 500, JUVE (in particular public takeovers and stock corporation law), Who's Who Legal, Handelsblatt / Best Lawyers, WirtschaftsWoche, IFLR 1000 - Leading Partner Corporate/M&A Germany & Leading advisor under 50 Corporate
Legal 500 & JUVE - "Michael is outstanding in navigating in complex matters, with meticulous attention to detail and a proactive approach. He manages relations with all internal and external stakeholders with agility."; "We most appreciate Michael's strong pragmatism and commercial awareness, providing solutions to find the way forward."
Chambers (Clients, 2026) - "Excellent", "outstanding in capital markets related corporate matters"
JUVE Handbook 2025/26 (Competitor) - "Michael Brellochs' client service and general level of service, level of sophistication and commercial vision are very strong. He is outstanding, very professional. He has great expertise and is pleasant to work with."
Chambers (Client, 2024) - "Excellent, unmatched quality"
JUVE Handbook 2024/25 (Client) - "Excellent expertise and counseling" (Client); "Highly competent" (Competitor)
JUVE Handbook 2023/24 - "Very competent, hands-on, pragmatic, pleasant working atmosphere"
Legal 500 (Client, 2022) - "Outstanding expertise and experience, pragmatic solutions and skillful negotiations"
Legal 500 (Client, 2021) - "The best of the younger partners at Noerr"
JUVE Handbook 2020/2021 (Competitor) - "Well-known M&A lawyer with a strong practice advising listed companies and financial institutions in private and public M&A. Excellent work for insurance companies"
Who's Who Legal (2019) - "One of the stellar, up-and-coming players"
JUVE Handbook 2017/2018 (Client)
My insights
Career
Legal studies in Freiburg i. Br., Heidelberg, Geneva, Strasbourg and Harvard (LL.M.)
Attorney-at-law with an internationally practicing law firm in Düsseldorf and Munich, focusing on M&A and corporate and capital markets law
With Noerr since 2013
Admitted to the Munich Chamber of Lawyers and the New York State Bar
Memberships
- Co-Editor of the Journal for Commercial and Business Law (Zeitschrift für das gesamte Handels- und Wirtschaftsrecht (ZHR))
- International Bar Association (IBA)
- Association of Corporate Law [Wissenschaftliche Vereinigung für Unternehmens- und Gesellschaftsrecht (VGR)]
- Harvard Law School Association of Germany
- German-American Lawyers’ Association (DAJV)
Lectures
- Expert in legislative matters regarding corporate and capital markets law for the Finance Committee of the German Bundestag, the Federal Government Coalition, the Federal Ministry of Finance and the Federal Ministry of Justice
- Speaker on M&A, corporate and capital market law at seminars and conferences, among others at the International Bar Association, BeckAkademie, Deutsches Aktieninstitut, Universities of Heidelberg, Munich an Freiburg i.Br.
Publications
- Unabgestimmte Übernahmen
Bayer/Krieger/Löbbe (Hrsg.), Festschrift für Jochem Reichert, 2026, p. 177 et seq. - Delisting nach dem ZuFinG II / StoFöG - sinnvoller Anlegerschutz oder (weitere) Erschwernis der Kapitalmarktnotierung?
ZHR 189 (2025), p. 541 et. seq. - Handbuch der Kapitalmarktinformation, § 1 (Insiderrecht)
Habersack/Mülbert/Schlitt (Hrsg.), 4th Ed. 2025 - Handbuch Lieferkettenrecht, § 33 Ad-hoc-Publizität von menschenrechts- oder umweltrechtsbezogenen Compliance-Vorfällen und Aufschub der Offenlegung
Leyens/Seibt (Hrsg.), 2025 - Umwandlungsgesetz, Sec. 138 - 146 UmwG (Demerger / spin-off of limited liability companies and stock corporations)
Habersack/Wicke (ed.), 3rd Ed. 2023 - Marktmissbrauchsverordnung (EU Market Abuse Regulation), Art. 11 MAR (Market Soundings)
Klöhn (ed.), 2nd Ed. 2023 - Der Verzicht auf die Mindestannahmebedingung im Übernahmerecht (with Dirk Verse)
ZHR 186 (2022), p. 339 et seq. - Minimum acceptance thresholds are becoming a problem - legal experts recommend the possibility to waive thresholds after expiry of acceptance period (with Dirk Verse)
Börsen-Zeitung 06/11/2022 - BeckOK WpHG, Kommentierung der §§ 40–43 WpHG (Emittentenpflichten im Zusammenhang mit Stimmrechtsmitteilungen, Investorenerklärung) (with Philipp Buchs)
Seibt/Buck-Heeb/Harnos (Hrsg.), since 2021 - Aktivistische Investoren - aktuelle Trends und Auswirkungen auf die Arbeit von Vorstand und Aufsichtsrat
ACI Quarterly, IV/2021, p. 8 ff. - Short-Seller-Attacken im Fokus
Börsen-Zeitung 03/12/2021 - Institutionelle Investoren (ETF-Fonds, Versicherungen, Pensionskassen) im Gesellschafts- und Kapitalmarktrecht
ZHR 185 (2021), p. 319 et. seq. - Neue BaFin-Vorgaben – Der neue Emittentenleitfaden der BaFin erleichtert Kapitalmarktkommunikation und Transaktionen
FAZ of 6 May 2020, p. 16 - Leerverkaufsangriffe – Anmerkungen aus Sicht der Praxis – Responsio
ZGR 2020, p. 319 et seq. - Block-Trades und Paketverkäufe - insiderrechtliche Fragen beim Verkauf von Paketen börsennotierter Aktien (with Laurenz Wieneke)
Klöhn/Mock (ed.), Festschrift 25 Jahre WpHG, 2019, p. 567 et. seq. - Expert opinion on BaFin Consultation No. 14/2019, Entwurf Emittentenleitfaden, Modul C, Regelungen aufgrund der Marktmissbrauchsverordnung
August 2019 - Konkretisierung des Acting in Concert durch den BGH, Kommentar zu BGH v. 25.9.2018 – II ZR 190/17
AG 2019, p. 29 et. seq. - Zur Angemessenheit der Gegenleistung im Übernahmerecht - Besprechung von BGH, Urt. v. 7.11.2017 – II ZR 37/16 (McKesson/Celesio)
ZGR 2018, p. 811 et. seq. - Mehr Flexibilität bei prospektfreier Zulassung
Börsen-Zeitung 12/08/2017, p. 9 - Die Neuregelung der kapitalmarktrechtlichen Beteiligungspublizität – Anmerkungen aus Sicht der M&A- und Kapitalmarktpraxis
AG 2016, p. 157 et seq. - Kapitalmarkt-Compliance in neuer Rolle
Börsen-Zeitung 07/11/2015, p. 9 - Neue Regeln für die Marktsondierung
ACI Quarterly, II/2015, p. 17 et seq. - Delisting vor dem Neustart
Börsen-Zeitung 09/05/2015, p. 13 - Expert opinion in the hearing in the Finance Committee of the German Bundestag on 07/09/2015 on the government draft act to implement the EU Transparency Directive Amendment Directive, “Entwurf eines Gesetzes zur Umsetzung der Transparenzrichtlinie-Änderungsrichtlinie”
BT-Drucks. 18, p. 5010 - Der Rückzug von der Börse nach „Frosta“ - Rechtsdogmatische Einordnung, Durchführung und Rechtsschutz in zukünftigen Fällen
AG 2014, p. 633 et seq. - Insider trading and the disclosure of inside information after Geltl/Daimler – A comparative analysis of the ECJ decision in the Geltl/Daimler case with a view to the future Market Abuse Regulation (with Hartmut Krause)
CMLJ (2013) 8 (3), p. 283 et seq. - Insiderrecht und Ad-hoc Publizität bei M&A- und Kapitalmarkttransaktionen im europäischen Rechtsvergleich – ein Beitrag zum Begriff der Insiderinformation im kommenden EU Marktmissbrauchsrecht (with Hartmut Krause)
AG 2013, p. 309 et seq. - Ad-hoc-Mitteilung auch über Zwischenschritte eines kursrelevanten Vorgangs, Anmerkung zu BGH, Beschl. v. 23.4. 2013 – II ZB 7/09 (Geltl/Daimler)
ZIP 2013, p. 1165 et seq. - Konzernrechtliche Beherrschung und übernahmerechtliche Kontrolle
NZG 2012, p. 1010 et seq. - Die Auslegung der kapitalmarktrechtlichen Melde- und Zurechnungsnormen im Licht der BGH-Rechtsprechung
ZIP 2011, p. 2225 et seq. - Publizität und Haftung von Aktiengesellschaften im System des Europäischen Kapitalmarktrechts
Bd. 103 der Schriften des Instituts für Arbeits- und Wirtschaftsrecht der Universität zu Köln, C. H. Beck 2005 (Dissertation)
Well
informed
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