Executive Summary/Highlights Global M&A volume approached US$3.9 trillion in 2019, the third highest annual total in the last decade, despite increasing global economic and political headwinds. Strong economic growth, low interest rates, record amounts of private equity dry powder and the availability of corporate cash fueled global M&A in 2019. The boom was strongest in … Continued
On December 20, 2019 the highest court of the Netherlands upheld an earlier decision by a lower court that insufficient action to address climate change posed a “risk of irreversible changes to the worldwide ecosystems and liveability of our planet” and a “serious risk that the current generation of citizens will be confronted with loss … Continued
Legal entities in the Netherlands must register UBO from March 2020 The much anticipated UBO register is expected to become operational in March 2020. The UBO register will be kept by the Netherlands Chamber of Commerce and will be separate from the Dutch Trade Register. All legal entities registered in the Netherlands, including foundations, must … Continued
Cross-Border M&A and Protectionism – A Review of Laws and Practice in China Daniel He, JunHe LLP 1. The New PRC Foreign Investment Law On March 15, 2019, the National People’s Congress of the People’s Republic of China (“PRC” or “China”) approved the PRC Foreign Investment Law (“FIL”) which will be implemented on January 1, … Continued
Some Thoughts for Boards of Directors in 2020 By Martin Lipton, Steven A. Rosenblum, Karessa L. Cain, and Kathleen I. Tatum December 9, 2019 In hindsight, 2019 may come to be viewed as a watershed year in the evolution of corporate governance. After years of growing alarm about endemic short-termism, the sustainability and competitiveness of … Continued
The Peruvian Government has enacted a new mandatory and suspensory clearance regime, which will come into force next year. Previously, Peruvian legislation only imposed mandatory pre-notification and clearance requirements for vertical or horizontal concentrations occurring in the fields of electricity generation, transmission or distribution.[1] Summary Breakdown Scope. The new merger control regime will apply to … Continued
Executive Summary/Highlights: In Q3 2019, global M&A volume was US$784 billion, reaching US$2.8 trillion for the year to date. Global M&A volume could, based on the current pace, exceed US$3.5 trillion in annual volume in 2019 for the fifth time in the last decade. But there are signs of a slow-down. U.S. M&A volume, the … Continued
The Finance Commission of the French National Assembly has announced a report that will recommend reforms to French securities market regulations to address shareholder activism and market transparency. The report’s recommendations focus on responding to the excesses of activists in the French market with enhanced disclosure, reduced asymmetry of regulation between activist investors and French public … Continued
Below is an op-ed by Martin Lipton and William Savitt that appeared in the Financial Times on Tuesday, September 17, 2019. Martin Lipton William Savitt
Amendment laws implementing the Shareholders’ Rights Directive: Action Points for Boards of Austrian listed companies On 23 July 2019, amendments of the Stock Corporation Act and Stock Exchange Act implementing the Shareholder Rights Directive II (2017/828) entered into force. Directive 2017/628/EU to encourage long-term shareholder engagement was implemented with the aim to minimize the administrative … Continued
