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Legal Expert Board
SEPTEMBER 2014
strategy in a complex but attractive market.
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increased outbound acquisition activity is well known, we have seen an increased
Cross border M&A activity has picked up; particularly inbound transactions. We are seeing significant acquisitions by UK, Canadian, Chinese, Japanese, German and Australian companies.
How do you feel the M&A market in your country has developed over the course of the last year, and what were the main trends?
Cross border M&A activity has picked up; particularly inbound
transactions.
level of interest not only in energy and resources, but manufacturing (particularly transportation related), branded products, technology of all types and real estate businesses.
We
are seeing significant acquisitions by UK, Canadian, Chinese, Japanese, German and Australian companies. Activist investors have also influenced many mergers and acquisitions in the U.S. While China’s
What were the main challenges that arose within the M&A market in your jurisdiction this year?
Changes in both regulations and increased enforcement of existing
regulations are creating both opportunities and uncertainty for a number of our clients. High valuations have also caused certain potential buyers to question the viability or desirability of pursuing some acquisitions.
The market is very seller friendly and has required many buyers to step up not only in purchase price but deal terms -- accepting deal completion and liability risks that may not have been necessary not too long ago.
In addition, the U.S. like other countries has seen an increase in the existence, complexity and importance of compliance regulations.
It is rare these days to find acquisition targets in the U.S. with no business activity outside the U.S. Addressing regulatory requirements such as competition filings in countries that act more slowly than others, as well as dealing with different legal regimes and business cultures,
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