Conclusion
The current regulatory landscape means more transactions navigating administrative processes with more expense and longer timeframes for deals. All this whilst also engaging with regulatory bodies which may be still finding their feet, and where clarity regarding expectations can be challenging. With the 'problematic' deals (those where remedies are required or which are prohibited) gaining far greater visibility, this adds to the more uncertain environment for M&A transactions more generally.
Our analysis, however, provides reassurance. It also confirms our experience as a global law firm with vast experience in advising on M&A deals, globally. The overwhelming majority of deals reach completion. The impact on the process towards completion is however dependant on the approach taken. Whilst additional time and cost investment is now inevitable in M&A transactions, there are still actions you can take to ensure, as far as possible, that your transactions run smoothly, whether it concerns antitrust or FDI. We hope the commentary within this report has given you both insight and practical actions to take away, to make the pathway to doing deals easier - whatever the future holds.
“I hope, in the coming years, regimes and governments review their processes, so the number of filings being made, and the number of legitimate concerns that are unearthed are fine-tuned.” Claire Morgan Partner, Competition, Trade and Foreign Investment, Eversheds Sutherland
“Regulatory compliance is here to stay. It’s only going to become more complex. Businesses are going to have to comply, come what may. Come to terms with it. Accept it. And deal with it. Deal with it early – on every deal.” James Lindop Partner, Global Co-Chair Competition, Trade, and Foreign Investment, Eversheds Sutherland
“None of this regulatory burden should influence the fundamentals of whether you should or should not do a deal. Whether or not you should comes down to economics.” Anthony Walsh Partner, M&A, Eversheds Sutherland
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