Deals analysis

  • MAC risks shown by Sberbank merger

    23 November 2011

    One of Europe’s biggest banking M&A transactions this year involved intense negotiations over material adverse change (MAC) clauses to deal with market turbulence, according to a lead lawyer on the deal

  • The Indonesian M&A structuring quirks to watch out for

    23 November 2011

    M&A structures in Indonesia are developing strange quirks, as a result of a desire to sell public companies. Here are the key difficulties

  • Anglo American’s De Beers purchase explained

    17 November 2011

    Lawyers on the Anglo American/De Beers deal navigated third party pre-emptive equity rights and utilised an anti-embarrassment clause in the $5.1 billion acquisition

News analysis

  • 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