M&A in a Cold Climate
Blair Effron, co-founder of Centerview Partners, gave the opening address at the recent 32nd Tulane Corporate Law Institute. He predicted that M&A volume for 2020 could drop by as much as 25 percent. A plague has spread over the world. The U.S. election is in flux. Deals grow ever more complex with ever longer gestation periods and unforgiving scrutiny before a plethora of regulators. Will the global economy tank?
M&A Today Slides
Between Signing and Closing
In the context of the COVID-19 pandemic, interim operating covenants are likely to see increased attention in pre-signing negotiations and play an outsized role in buyer/seller relations between signing and closing. The pandemic has already caused interim periods to be extended due to the virus's impact on business operations and governmental responses around the world. Even before the outbreak of the novel coronavirus, extended interim periods could arise due to increased regulatory scrutiny of deals for national security and antitrust reasons, among others.