Welcome to our first edition of M&A today. This is our first regular update on what we are seeing in the M&A market and on the issues that matter to you.
The uncertainty of recent months has undoubtedly had an impact on M&A activity, but we have not seen the rapid downturn that was feared following the 23 June vote. Despite a brief pause before and after 23 June, we are seeing M&A activity pick up, as investors realise that investment decisions cannot wait 2+ years for resolution of the Brexit issue.
Brexit and M&A
There is no escaping the continuous speculation around Brexit. But what does it actually mean if you are in the middle of a transaction right now? Read our latest article on what you should be thinking about.
You can also find more emerging Brexit analysis and themes in our Brexit Box.
Reputation Management in M&A
With the significant benefit of hindsight, the BHS fiasco has thrown an intense light on the M&A process and what a seller should be thinking about when considering the sale of a business – click here to read more.
M&A Risk Management
We are delighted to launch our report on risk management in M&A, with a particular focus on learnings from warranty claims and on W&I insurance offerings. Read or download the newsletter in PDF for more information.
Great process is at the heart of successful M&A. Internally, various stakeholders need to be aligned and engaged to ensure an effective transaction and the integration or separation of businesses. Risks need to be assessed and managed, and strong (often quick) decisions need to be made. Externally, you need to know that your advisers are joined up and are running cost-effective and rigorous processes, focused on the key strategic goals.
And yet - M&A often lags behind other areas of business, in terms of the scrutiny and understanding of good process and effective process mapping and implementation.
We are delighted to be hosting a practical workshop in the Autumn with Dr Alex Hill, of Oxford University and advisor to the All Blacks, NASA and Team Britain cycling. Together we will challenge and test M&A processes and compare notes with peers, so everyone can take away their own learnings and improvements.
More information to follow.
What do M&A disputes tell us?
Our litigation team has worked on a wide range of M&A disputes in recent years. We have just completed an analysis of those disputes (and of market W&I insurance offerings), to see what patterns and lessons emerge and to assist you both in closing deals and in assessing the value of post-closing claims.
Our report covers a range of themes, all accompanied by tips and learnings, to help you minimise your risks and maximise your rights, as practically as possible. For example:
- Which warranties give rise to claims?
- What is the right cap?
- Does W&I insurance work and what does it cost?
- How would a warranty claim (or a W&I insurance claim) actually work in practice?
We would love to talk you through the report, to compare notes with your own experiences and views and to see what learnings and benefits you can take from it. For more information, please get in touch with your usual M&A contact.