Publication
Road to COP29: Our insights
The 28th Conference of the Parties on Climate Change (COP28) took place on November 30 - December 12 in Dubai.
Global | Publication | February 2023
Resilient dealmakers have emerged from the challenges of the last two years ready to take advantage of a public M&A market ripe with opportunity in the second half of 2023.
Market participants have shown remarkable optimism in the face of the most significant changes to underlying economic conditions in 2021 and 2022 since the global financial crisis.
If inflation is tamed in Australia without significant economic contraction, we expect more buoyant market conditions in the second half of the year to be accompanied by higher public M&A deal volumes. The opposite is at risk if high inflation and interest rates persist for longer than expected.
Some of our key predictions for how 2023 might unfold are outlined below.
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For reasons that dealmakers in the market are intimately familiar with, 2022 saw a noticeable decrease in the number of public M&A deals announced in Australia compared with the frenzy of 2021.
While large public M&A contracted, average deal value remained steady at just over AU$1 billion which was surprisingly strong given the year’s volatility.
Another stand out during 2022 were fewer instances of failed deals (4%, compared to 8% and 10% in the previous two years), while the percentage of actively withdrawn deals increased to 17% (from 10% and 13% in the previous 2 years). These figures support the trend amongst bidders for greater certainty in the outcome of their transactions.
Click here to read more detailed summary of 2022 deal trends.
Inbound investment
Publication
The 28th Conference of the Parties on Climate Change (COP28) took place on November 30 - December 12 in Dubai.
Publication
Miranda Cole, Julien Haverals and Emma Clarke of our Brussels/ London offices are the authors of a chapter on procedural issues in merger control that has been published in the third edition of the Global Competition Review’s The Guide to Life Sciences. This covers a number of significant procedural developments that have affected merger review of life sciences transactions.
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