M&A (General)

GLOBAL STATISTICAL UPDATE – XBMA Quarterly Review for Third Quarter 2015

Executive Summary/Highlights: Global M&A volume in Q3 exceeded US$1 trillion, a quarterly figure second only to 2015’s Q2 in recent years.  M&A volume through the first three quarters was US$3.2 trillion (an increase of 30% over the same period in 2014), and year-to-date volume through the date of publication is the strongest on record.  These … Continued

Editors’ Note: The XBMA Review is published on a quarterly basis in order to facilitate a deeper understanding of trends and developments.  We welcome feedback and suggestions for improving the XBMA Review or for interpreting the data.

More

ISRAELI UPDATE – A Proposed Reform in Israeli Merger Control and Supervision of Authorized Distributors

Executive Summary: Memorandum published by the General Director of the Israel Antitrust Authority earlier this year proposed reform that reflects a considerable expansion in the application of Israeli antitrust law to mergers between foreign corporations, as well as mergers involving Israeli and foreign corporations (including the acquisition of an Israeli corporation by a foreign corporation … Continued

Editor’s Note: David E. Tadmor is a member of XBMA’s Legal Roundtable and the Co-Managing Partner of Tadmor & Co. Yuval Levy & Co.  Mr. Tadmor is recognized as a leading expert in the area of Israeli competition law.  He served as the Director General of the Israel Antitrust Authority (IAA) from 1997 to 2001.  Shai Bakal, head of Tadmor’s Antitrust/Competition group, and Tadmor Antitrust/Competition partner Nava Karavany authored this article with associate Michal Olivero Kornfeld.

More

BRAZILIAN UPDATE – New Brazilian Anti-corruption Law and Regulations

Highlights: The Brazilian Anti-Corruption Law established sanctions on legal entities involved in corrupt and other illegal acts. Fines that range from 0,1% to 20% of the annual gross revenue and prohibition from receiving credit from public banks are among the sanctions established. The law provides for the strict liability of the legal entities and for … Continued

Editors’ Note: This update comes from Francisco Antunes Maciel Müssnich (founding partner) from Barbosa, Müssnich & Aragão Advogados. Francisco Müssnich is a member of XBMA’s Legal Roundtable, and a leading expert on Brazilian corporate and M&A matters. This paper was jointly authored by Adriana Dantas and Anna Carolina Malta from Barbosa, Müssnich & Aragão Advogados.

More

U.S. UPDATE – The Long Arm of Governance Activism: U.S. Investors Look Abroad

Executive Summary: U.S. public pension funds – longstanding proponents of corporate governance and shareholder proposal-style activism in the U.S. – are now allocating increasing amounts of capital throughout the world, and increasingly considering whether and how to globally apply their strategies and tactics for increasing shareholder power, changing governance norms, influencing boards and management teams … Continued

Editors’ Note: This article was co-authored by Adam O. Emmerich and Sabastian V. Niles of Wachtell, Lipton, Rosen & Katz

More

BELGIAN UPDATE – M&A Outlook (First Half of 2015)

Highlights: Toward the end of 2014, the Belgian M&A market became increasingly active.  Due to several factors such as a weaker euro, fear on the part of business owners for a tax shift and greater willingness of the banks to finance acquisitions, the positive trend of enhanced M&A activity continued in H1 2015. Private equity … Continued

Editors’ Note:  Peter Callens is a partner with Loyens & Loeff and a member of XBMA’s Legal Roundtable.  Mr. Callens is renowned for his national and international corporate practice, with a focus on M&A and transactions in various sectors of industry. Mr. Callen authored this article along with his colleagues Natalie Reypens and Aldo Engels of Loyens & Loeff’s tax department and Robrecht Coppens, Mathias Hendrickx, Henri Nelen, and Elke Ghesquière of Loyens & Loeff’s corporate and M&A department.

More

GLOBAL STATISTICAL UPDATE – XBMA Quarterly Review for Second Quarter 2015

Executive Summary/Highlights: Global M&A volume in Q2 was almost US$1.4 trillion, significantly higher than the average quarterly volumes in recent years and the most active quarter since the financial crisis. Year to date M&A volume was ~US$2.25 trillion.  These USD figures were recorded despite the strength of the dollar when measuring values for deals stuck … 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.

More

CHINESE UPDATE – Developments on Foreign Investment Administration – On the Catalogue of Industries for Guiding Foreign Investment (2014 Revision)

Highlights: Foreign investment projects in China are categorized into encouraged, permitted, restricted and prohibited projects.  The 2014 revisions to the Catalogue of Industries for Guiding Foreign Investment were made with the intention to substantially reduce the restricted projects, to loosen the restrictions on foreign shareholding percentage, and to primarily promote the opening-up of the manufacturing … Continued

Editors’ Note:  Contributed by Adam Li (Li, Qi), a partner at Jun He and a member of XBMA’s Legal Roundtable. Mr. Li is a leading expert in international M&A, capital market and international financial transactions involving Chinese companies. He has broad experience with VIEs and other structures for foreign investment in China.  This article is authored by Jun He partner Catherine Miao and associate Vivian Pan.  Ms. Miao’s practice area includes finance, FDI, enterprise restructuring, M&A, and overseas investment by domestic enterprises.

More

GLOBAL STATISTICAL UPDATE – XBMA Quarterly Review for First Quarter 2015

Executive Summary/Highlights: Global M&A volume in Q1 was US$854 billion, the highest Q1 volume in recent years, carrying momentum from a strong 2014 into 2015.  If deal activity continues at its current pace, global M&A activity in 2015 will at least match last year’s strong volume of approximately US$3.5 trillion. The surge in M&A activity … 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.

More

INDIAN UPDATE – NEW INSIDER TRADING LAWS IN INDIA: HOW MUCH IS TOO MUCH?

Executive summary: The following article discusses the introduction of the 2015 Regulations to overhaul the legal regime to address challenges posed by the 1992 Regulations. Such challenges included limited scope of definition of ‘insider’ or ‘connected person’, no clear guidance on due diligence in listed company transactions and over regulation by prescribing detailed disclosure requirements … Continued

Editors’ Note: Cyril Shroff is a member of XBMA’s Legal Roundtable and one of the deans of the Indian corporate bar and a leading authority on Indian M&A, with extensive experience handling many of the largest and most complex domestic and cross-border M&A, takeover, banking and project finance transactions in India.

More

Korean Update – M&A in Korea – A Year in Review and Outlook (2015)

MAIN ARTICLE Korea had the strongest and most active M&A market in 2014 during the past five years with a 47% increase in announced deal volume from USD 64.8 billion in 2013 to USD 95 billion in 2014 (based on Bloomberg statistics), and Kim & Chang had the privilege of advising on transactions accounting for … Continued

Editors’ Note: Joon B. Kim is a partner at Kim & Chang. Mr. Kim is an expert in inbound and outbound mergers and acquisitions of public and private companies as well as disputes and investigations relating to foreign direct investment and antitrust issues involving multinational corporations.

More

Previous

Page 12 of 30

Next