The cost is driven by many factors, so there’s a wide variance depending on the size of the company, what’s being acquired, and how the acquisition is structured.
For example, with medium to large companies, legal costs are going to be well above the $100k mark. For smaller companies (less than 100 employees), legal costs can range anywhere from approximately $15k-$100k - depending on your geographical location and whether you use a traditional law firm.
Mergers and acquisitions are going to be more pricey than just an asset sale. Asset sales are rising in their popularity. This is essentially a transaction involving a purchaser who cherry picks only the assets they want, leaving other assets and liabilities behind. This type of sale is usually about one-third to one-half the cost of a more conventional M&A.
The numbers here are average ranges. Some transactions cost more, and some cost less. It all depends on the particular circumstances of the deal.