Deals analysis

News analysis

  • LatAm’s new competition

    23 December 2011

    Brazil, Argentina and Ecuador are the latest to shake-up the region’s diverse and often unusual antitrust rules

  • Europe on alert

    23 December 2011

    Chinese state-owned enterprises’ increasing European investments are causing competition concerns at the EC. Here’s what the regulators are focusing on

  • FDI revisions reveal PBOC’s currency fears

    08 November 2011

    A Chinese government decision to fast track rules on renminbi-settled foreign direct investment (FDI) is indicative of authorities’ concerns over the outflow of money from the country, according to market participants

  • When you need a US fairness opinion

    03 November 2011

    Fairness opinions are an important part of most deal agreements, but are not always necessary and will not help justify transactions where the financial analysis is crafted to rationalise the deal. This is the position affirmed in recent Delaware Court of Chancery shareholder litigation

  • Why winning bidder finance survives Del Monte

    26 October 2011

    Settlement in Del Monte’s closely-watched shareholder litigation does not mark the end of stapled finance or winning bidder finance, but US counsel predict market expectation to shift away from banks working both sides of deals

  • Sponsors lose post-crisis loan covenants

    25 October 2011

    Leveraged loan covenants are showing banks’ hesitancy to finance all but the strongest of credits. More robust market flex terms and bigger equity checks have characterised deals coming to market during summer

  • Brazil’s antitrust overhaul: less deals reviewed, more could be blocked

    20 October 2011

    Fewer deals will face antitrust review under Brazil’s long-awaited antitrust bill, expected to soon be signed into law. But a larger number could be blocked

  • Lessons in RTM assignment restrictions

    19 October 2011

    A more prudent approach to third party consents may be required when closing reverse triangular mergers (RTM) following an unexpected Delaware Court of Chancery decision earlier this year

  • EU contract law may cover financial services

    13 October 2011

    Yesterday’s publication of the EC’s proposals have prompted speculation that the scheme will soon encompass financial services

  • Stronger DoJ enforcement on vertical mergers

    22 September 2011

    New US Department of Justice (DOJ) guidelines on conduct remedies suggest more vigorous enforcement of vertical mergers, some attorneys have commented

  • What Chile’s ban on Irish Ucits means for funds

    07 September 2011

    The Chilean pensions regulator has disapproved general investment into Irish domiciled Ucits funds, following the country’s sovereign downgrade to junk status

  • Exclusive: Australia to introduce intercreditor framework

    31 August 2011

    Australia will introduce a framework of key intercreditor principles that will change the leveraged finance market forever, IFLR can reveal

  • Danish counsel call for takeover panel

    18 August 2011

    Lawyers working on Dupont’s $6.4 billion takeover of Danisco have called for a review of Denmark’s takeover laws, demanding that the country creates a takeover panel with deal experience

  • Goldman case signals new antitrust liability for private equity

    18 August 2011

    An EC statement implicating Goldman Sachs in the alleged cartel offences of a subsidiary company could signal a harder line on the antitrust liability of private equity firms

  • Kotak: Sebi’s new alternative investment funds rules redundant

    18 August 2011

    Bankers’ counsel in India have branded the Securities and Exchange Board of India’s (Sebi) new rules on alternative investment funds (AIF) unnecessary and insignificant

  • Regulator standoff on Chinese reverse mergers

    18 August 2011

    Cross-border audit negotiations between US and Chinese regulators have reached a standoff over US oversight of Chinese audits, according to a CPA licensed in both countries

  • FCPA: biggest barrier to SE Asian deals

    04 August 2011

    Lawyers in Hong Kong expect private equity deals in south-east Asia to become increasingly difficult to implement. Enforcement of the US Foreign Corrupt Practices Act (FCPA) is a primary reason for this

  • Proxy contests uncertain after court vacated SEC rule

    04 August 2011

    The frequency of proxy contests has become uncertain following the US Court of Appeal’s strike down of an SEC proxy access rule

  • EU insolvency harmonisation “a step too far”

    03 August 2011

    Europe’s latest attempt to harmonise aspects of its insolvency laws will face significant cultural and political hurdles, according to a UK partner

  • HSR changes scrutinise management relationships, synergy analysis

    03 August 2011

    Starting this month pre-merger notification in the US will become more difficult for funds and will force strategic acquirers to reconsider their approach to synergy and efficiency arguments

  • Kotak Capital: clarity on Indian Takeover Code needed

    02 August 2011

    Kotak Mahindra Capital’s counsel expects revised takeover rules to have little impact unless implementation issues are addressed

  • Dodd-Frank fatigue hampering PE investment structures

    22 July 2011

    The Dodd-Frank rulemaking burden may have dampened the Federal Reserve’s willingness to consider creative bank acquisition structures

  • Experts disagree on validity of say-on-pay lawsuits

    22 July 2011

    Disagreement has broken out over the legitimacy of US shareholder litigation spawned by failed say-on-pay votes during this year’s proxy season

  • UK Takeover Panel introduces final form changes

    21 July 2011

    The UK Takeover Panel has today published the final form changes to the Takeover Code. The rules will come into force on September 19, with no material amendments to the rules proposed in March

  • In the crosshairs

    11 July 2011

    EU Commission initiatives require financial institutions to focus on antitrust rules

  • A brave new world

    11 July 2011

    With hostile takeovers on the rise this year, we reveal the new tactics being used to drive them

  • The clock is ticking

    11 July 2011

    The UK Takeover Code implementation date has been confirmed. But market participants are still ignoring the changes

  • A private move

    11 July 2011

    Going-private transactions are becoming popular with US-listed, China-based companies. A pattern now seems to be emerging in the way they are conducted

  • Welcome changes

    11 July 2011

    Revised legislation may spell the end for schemes of arrangement as the legal mechanism of choice for takeovers of listed Cayman Islands companies

  • Open for business

    11 July 2011

    Recent changes to South Africa’s corporate regime provide new opportunities for foreign companies

  • Blackstone: India acquisition decision-making more professional

    08 July 2011

    Indian businesses are becoming more proficient in board level decision-making, according to a senior Blackstone figure

  • How Indian counsel can improve due diligence

    08 July 2011

    Legal and patent landscape assessments need to replace less effective quantitative due diligence, say lawyers

  • IFLR India Awards 2011 – Winners revealed

    08 July 2011

    Around 200 in-house counsel and private practice lawyers gathered in Mumbai’s ITC Grand Central Hotel last night to see Amarchand Mangaldas scoop Indian firm of the year.

  • India Outbound Forum: the best quotes

    08 July 2011

    Some controversial opinions were on display at IFLR's India Outbound Forum on July 7. Here's a selection

  • Long-term focus key to Africa investment

    08 July 2011

    A long-term outlook is essential when investing into Africa, say domestic and international lawyers.

  • New tactics driving US hostile M&A

    01 July 2011

    Speed, shareholder activism and regulatory gaps are behind the upswing in hostile M&A in the US over the past year

  • UK Takeover Code implementation date announced

    01 July 2011

    The amendments to the UK Takeover Code will come into effect on September 19, it was announced on Friday