August 2014

POLISH UPDATE – M&A in Poland: Eastern Gateway to the European Union

Executive Summary: Poland’s developing economy and entrepreneurial society with investor-friendly government policies create many interesting M&A opportunities.  There is a wide variety of companies which are directly or indirectly controlled by the state, or part of global corporations as well as small and medium firms owned by local or European entrepreneurs.  Except for privatisations, which … Continued

Editor’s Note: This update comes from Tomasz Wardyński, founding partner of Wardyński & Partners and a member of XBMA’s Legal Roundtable.  The author of this article is Weronika Pelc, partner, member of Wardyński & Partners Mergers & Acquisitions Practice and head of Energy Law Practice.

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AUSTRALIAN UPDATE – Economic Activism: Rethinking Directors’ Duties and Governance Structures in the Activist Context

Executive Summary:  The presentation and article below focus on shareholder activism, particularly as conducted by situational hedge funds, and the appropriate standard for director response.  While the authors argue that the Australian legal environment is slanted in favour of activists, they also demonstrate various counterbalances that exist as a result of specific Australian authorities. Main … Continued

Editor’s Note:  David Friedlander, Partner in the Sydney office of King & Wood Mallesons recently presented on the topic of shareholder activism at a conference session at the Supreme Court of New South Wales Annual Law Conference held on 29 July 2014.  Mr. Friedlander is a member of the Australian Takeovers Panel and is consistently ranked as one of Australia's top M&A and equity capital markets lawyers.  The article and slides below presented at the conference session were authored by Mr. Friedlander with his associates Medard Fischer and Michael Ting of King & Wood Mallesons.†

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GLOBAL STATISTICAL UPDATE – XBMA Quarterly Review for Second Quarter 2014

Executive Summary/Highlights: Global M&A surged in Q2, surpassing US$1 trillion for the first time since the financial crisis, and exceeding the next most active quarter in recent years (Q4 2012) by more than 25%.  Global M&A activity in 2014 is on pace to exceed US$3.5 trillion, approaching the $4 trillion mark reached prior to the … Continued

Editors’ Note: The XBMA Review is published on a quarterly basis in order to facilitate a deeper understanding of trends and developments. In order to facilitate meaningful comparisons, the Review has utilized consistent metrics and sources of data since inception. We welcome feedback and suggestions for improving the XBMA Review or for interpreting the data.

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