Executive Summary/Highlights Global M&A volume in 2024 was US$3.2 trillion, higher than US$3.0 trillion in 2023, but well below the annual average of US$4.6 trillion over the prior 10-year period. Technology was the most active sector for M&A in 2024 (US$499 billion), followed by Energy & Power (US$477 billion) and Financials (US$453 billion). The largest … Continued
*Originally distributed on November 2, 2024. On November 1, 2024, the Ministry of Commerce, the China Securities Regulatory Commission, the State-owned Assets Supervision and Administration Commission of the State Council, the State Taxation Administration, the State Administration for Market Regulation, and the State Administration of Foreign Exchange jointly issued the Measures for the Administration of … Continued
*Originally distributed on February 20, 2024. In 2023, there was a 6.7% decline in the number of mergers and acquisitions involving Japanese companies as compared to 2022. This decrease can be attributed to a combination of macroeconomic factors, interest rate trends, regulatory changes, and geopolitical influences. Despite this overall trend, one standout deal was the … Continued
*Originally distributed on January 13, 2024. On December 29, 2023, the National People’s Congress passed the new amendment to the Company Law of the People’s Republic of China (the “New Company Law”), which will take effect on July 1, 2024. This marks the second comprehensive revisions of the PRC Company Law since its initial promulgation … Continued
Despite frequent frictions in recent trade relations, the growing scale of the economic relationship between the world’s two largest economies—the People’s Republic of China (PRC) and the United States—has given rise to an ever-greater number of civil and commercial disputes. For decades, the common assumption among American lawyers was that enforcing a U.S. court judgment … Continued
Cross-Border M&A Guide Wachtell, Lipton, Rosen & Katz recently published the 2023 edition of their Cross-Border M&A Guide, which is available here. This Cross-Border M&A Guide covers the key U.S. legal considerations not only for acquisitions of U.S. companies by non-U.S. companies (or “inbound” M&A transactions), but also for acquisitions of non-U.S. companies, including under … Continued
Following record-breaking M&A activity in 2021, M&A volume over the 12 months ending December 31, 2022 reverted toward the mean, with a significant slowdown in the second half of the year. Global M&A volume in 2022 was US$3.6 trillion, down from US$6.2 trillion in 2021 and closer to the annual average of US$4.3 trillion over the prior 10-year period.
Executive Summary/Highlights Global dealmaking slowed significantly in Q3 2022, reflecting current macro-economic and geopolitical uncertainties and challenges. Nevertheless, many deals got done and many of the traditional drivers of M&A point to meaningful deal flow in Q4 and beyond. Global M&A volume was US$692 billion in Q3 2022, a 37% decrease from Q2 2022 and … Continued
The past year generated substantial interest in the operation of the Investment Canada Act (ICA), especially the national security review process, against the backdrop of changes in government policy that purport to articulate a more expansive view of Canada’s national security interests. We expect foreign investment review to remain an issue of public and political concern in … Continued
Executive Summary/Highlights Global M&A volume was more than US$5.8 trillion in 2021, the highest annual volume on record. Each of the four quarters of 2021 was one of the top six most active quarters by dollar volume since the beginning of 2010. In addition to a legion of private equity funded transactions, including such major … Continued
