A peaceful election and slowing inflation have put M&A markets in South Africa in a more advantageous position. However, taking advantage of South African deal opportunities requires a clear understanding of a rapidly...more
Blick auf den Markt und die bedeutendsten Transaktionen - Die Analyse öffentlicher Übernahmen im Jahr 2023 erscheint auf den ersten Blick wie eine Blaupause des Vorjahres. Die bereits 2022 festgestellten Trends bestätigten...more
Global M&A Activity Endures Headwinds in 2023 and Displays Resilience Going Into 2024 - Despite market headwinds, dealmakers have looked to carveouts, spin-offs, joint ventures and other creative deal structures to engage...more
The German takeover market is declining and has shown clear signs of having been affected by the current economic and geopolitical environment. The number of takeovers and the total offer volume have both fallen...more
This first edition of 2023 covers recent guidance from the FCA’s Primary Market Bulletin 42 and Market Watch 71, major changes to the Takeover Code’s “acting in concert” presumptions, an FCA penalty for publishing misleading...more
The French Competition Authority ("FCA") fines a company for gun-jumping in a case relating to a progressive takeover and de facto control - On 12 April 2022, the FCA fined the Compagnie Financière Européenne de Prises de...more
Overview of the German public M&A market in 2021 - The overall boom in M&A in 2021 was confirmed in Germany's public M&A sector, with a total volume of EUR 67.3 billion. Despite being influenced mainly by several special...more
The Takeover Panel has just published its response statement (2020/1) making important changes to the Takeover Code regarding offer conditionality and timetable. They take effect on 5 July 2021 and will apply in relation to...more
Welcome to the fourth edition of our “Public Takeovers in Germany” newsletter. It provides an overview of public takeovers carried out in Germany in 2020 under the German Securities Acquisition and Takeover Act (WpÜG) and of...more
Private equity-backed takeovers of listed companies in Western Europe have enjoyed several strong years, with deal value rising year on year from 2013 to reach a total of US$38.8 billion in 2019. Volume followed a similar...more
Public tender offers under the German Securities Acquisition and Takeover Act: Offers, results and analyses - Following the lapse of the takeover offer to the shareholders of QIAGEN B.V. caused by the failure to meet the...more
The European Commission (EC) is currently working on legislative proposals (the White Paper) that would grant the EC new enforcement powers to address potential competition distortions caused by companies operating in or...more
The UK Parliament’s Foreign Affairs Committee has issued a “call for evidence” as part of its ongoing review of the UK government’s role in intervening in certain foreign takeovers of UK companies and potentially blocking...more
The disruption linked to COVID-19 already affects the global economy significantly, including M&A transactions in Europe and across the globe. On the regulatory side, many deals face challenges caused by national authorities'...more
The White House will again slap tariffs on steel and aluminum imports from Argentina and Brazil in an apparent reaction to “massive devaluation” of currencies in both South American nations....more
The Fed wrapped its January meetings yesterday with the expected news that it would leave the benchmark interest rate unchanged and the less-guaranteed report that it was hitting the pause button on future rate hikes (aka,...more
In this newsletter, we provide a snapshot of the principal European, US and selected international governance and securities law developments of interest to European corporates. ...more
The European Securities and Markets Authority has published a consultation paper on its draft technical advice to the European Commission on the minimum information content of documents provided for the purpose of describing...more
The UK government has widened the circumstances in which it may block mergers and takeovers of businesses in the military, dual-use, computing hardware and quantum technology sectors. Further strengthening of the UK rules is...more
A monthly newsletter covering topics of interest in the field of UK corporate law including mergers and acquisitions, listed companies, equity capital markets, corporate governance and general company law. ...more
The United Kingdom's Financial Conduct Authority ("FCA") published a policy statement on 26 October 2017 setting out certain amendments to the Listing Rules ("LRs") and related technical notes ("Policy Statement"). The FCA...more
France Welcomes Foreign and Alternative Capital Providers with Latest Reform of Finance Sector - Long a cornerstone of the French banking system, the "French banking monopoly" largely prevents non-bank entities from...more
On the 14th August 2017, it was widely reported in the UK press how Jean-Claude Juncker, the European Commission President, is preparing to unveil EU foreign takeover controls at a keynote speech in September. Such a system...more
Corporate governance – 4MLD and changes to the PSC regime - Companies House recently published its business plan for 2017-18, its strategic plan for 2017-2020 and a press release with details of additional anti-money...more