Highlights The Australian public M&A market has seen a resurgence in deal activity over the 12 months to 30 June 2014. The resurgence has been particularly strong in large transactions. FY2014 also saw an increase in competitive bid scenarios. Overall, success rates for transactions remained relatively steady at 64% in FY2014, up from 63% in … Continued
Main Article: The U.S. Chamber Institute for Legal Reform recently published an essay, as part of a report on the litigation of foreign disputes in the U.S. federal courts, detailing the extraordinary impact that the Supreme Court’s landmark decision in Morrison v. National Australia Bank has had on transnational securities litigation. After describing how Morrison … Continued
Highlights: New legislation, the Companies Bill 2012 due to become law in early 2015 will consolidate Irish company law into one comprehensive piece of legislation. The new company law regime will offer practical benefits and greater flexibility for Irish companies ranging from allowing companies to be incorporated more efficiently to radical reforms such as the … Continued
Executive Summary: A series of new regulations have gradually deregulate the approval process for Chinese overseas investment since the beginning of 2014. On September 6, 2014, China’s Ministry of Commerce released revised regulations that narrow the scope of types of foreign investment that need to be verified and approved, establish the management mode of “adopting … Continued
Executive Summary: The European Commission has fined Marine Harvest, a Norwegian seafood company and salmon processor, €20 million for acquiring Morpol without prior clearance and not long before, the Court of Justice rejected an appeal against a General Court judgment which upheld a fine imposed, also €20 million, on Electrabel for its acquisition of Compagnie … Continued
Highlights: Considering the Constitutional amendments enacted late last year, resulting in the opening of the energy industry to private investment, especially oil and gas, among other laws, the Federal Executive published the Hydrocarbons Act (“HA”) earlier last month. The HA reaffirms the newly revised principle enshrined in the Mexican Constitution that all hydrocarbons underground belong … Continued
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
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
Main Article: The Anti-Monopoly Bureau of the Ministry of Commerce in China (“MOFCOM”) issued a decision last month prohibiting the formation of the P3 Network, a long-term container shipping alliance among A.P. Møller-Maersk, Mediterranean Shipping Company and CMA CGM, which are Danish, Swiss and French companies, respectively. In the six years since the adoption of … Continued
Executive Summary: Pfizer’s potential bid for AstraZeneca Plc provoked strong debate in the UK on the appropriate political oversight of corporate transactions, including concerns that the deal would result in research jobs and R&D investment being lost. This briefing outlines the main legal routes by which the assurances from Pfizer in respect of the UK … Continued
