A strong year of M&A activity is slowing, but counsel in
the US and Canada remain cautiously optimistic about 2016.
Antitrust concerns are expected to linger until after the next
year’s Presidential elections though.
In July, IFLR was reporting that M&A activity in the
first half of 2015 was higher than any time since the financial
Healthcare and pharma were the industries to watch, while
payment structures mixing equity and cash were taking advantage
of market benefits.
But a downward tick in M&A volume started earlier this
year, partly driven by uncertainty over US monetary policy.
During 2015, markets watched the Federal Reserve for
indications of when interest rates might rise. When it seemed
the Federal Open Markets Committee was finally going to raise
the federal funds rate in September, even strategic acquirers
slowed their activity.
Stikeman ElliotMeanwhile, market gyrations...