The number of Asian takeovers of large North American
targets throughout 2013 tested the commercial and regulatory
boundaries of inbound M&A. It also set some precedents for
how authorities will react in these scenarios. This should
allow new purchasers – worldwide, but especially from
the east – to prepare for regulatory concerns.
The likes of Softbank's acquisition of Sprint, Shuanghui's
purchase of Smithfield, and the takeover of Canadian gas and
oil company Nexen by Chinese state owned enterprise (SOE) CNOOC
all offer insight into what national regulators are looking for
when they assess these deals.
The results accomplished in these large and well-publicised
deals should also help...