Why some transactions fail...are there common characteristics?

By James R. Asmussen, Esq. & Mr. Brian Boorstein & Mr. Frank Jaehnert & Kathryn Buono, Esq.

This discussion considered many of the key strategic and tactical issues that cause deals to fail to close and remedies one might consider as deal structures are developed. The session then pivoted to look at some of the most common reasons completed transactions fail to produce expected synergies and returns for investors.

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The shifting landscape for M&A tax planning

By Mr. John P. Bennecke, CPA & Mr. Daniel Van Vleet & Mr. Jeffrey L. Olin & Jeffrey A. Goldman, Esq.

This session covered key tax issues in due diligence; explored the tax benefits of various M&A structures; considered key tax provisions in acquisition agreements; and explored recent tax developments and reforms that may impact transaction planning and IRR measures.

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How to maximize divestment success

How to maximize divestment success
By Mr. Larry Hitchcock & Mr. Iain Macmillan

According to Deloitte’s global M&A Index, there has been a significant recent increase in major divestment activity, with companies announcing nearly $200 billion worth of global divestments in 2016 alone, compared to $150 billion in 2014.

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Changes to the UK takeover code—asset sales and other matters

Changes to the UK Takeover Code—Asset Sales and Other Matters
By Jeremy Kutner, Esq. & Laurence Levy, Esq. & Matthew Powell, Esq. & Michael Scargill, Esq.

This paper discusses changes made, on 8 January 2018, to the U.K. Takeover Code (the “Code”) which: (i) for the first time, expand the application of the Code to certain “asset” transactions taking place in “offer situations,” (ii) require greater disclosure by bidders of their future intentions with regard to the target and its operations, and (iii) unless the target agrees otherwise, require a bidder to delay by 14 days the posting of its offer document following the announcement of its firm intention to make an offer.

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