MAGAZINE
December 2019 Issue
Financier Worldwide Magazine
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COVER STORY
Welcome to the evolution: data analytics in M&A
Data provides much of the glue that connects people, processes and technology. Such adhesion is particularly important in an M&A context, where shrewd data usage is key to maximising shareholder value. In an era of profound technological advancement…
FEATURES
Mergers and acquisitions (M&A) can generate growth, drive value, expand market access and establish a global presence. But while deals can benefit the companies involved, many mergers have resulted in lost value for shareholders. One frequently cited cause…
For many companies, the question of whether to invest in emerging markets has long been a complex one. While these markets may provide strong returns and faster growth than some developed markets, they are also fraught with risk. And as many…
Destination USA: UK firms look stateside for growth
Uncertain is a word that has regularly been used in recent years to describe the outlook for UK economic growth. A great deal of this uncertainty is, unsurprisingly, being laid at the door of the UK’s expected departure from the European Union (EU) – a scenario…
Complying with the California Consumer Privacy Act
Data protection regulation, such as the EU’s General Data Protection Regulation (GDPR), is increasingly common, with similar legislation introduced in Brazil, Australia and Japan. Approaches to data protection in the US are rather more piecemeal, however…
The emergence of edge computing
Today, we live in a world dominated by technology. Streaming (live or otherwise), smartphones, social networks and the like are ubiquitous, leading to the average person using approximately 1.72GB of data each month – a figure set to increase to 5.07GB by 2021…
ROUNDTABLE
THE PANELLISTS: Jack Butler, Birch Lake Holdings, LP; Matthew Quade, BM&T; Chad J. Husnick, Kirkland & Ellis LLP; Tarun Bhatia, Kroll; and Van C. Durrer II, Skadden, Arps, Slate, Meagher & Flom LLP.
The distressed M&A arena has been operating in the shadow of increasing global economic and political uncertainty, as well as tension caused by the ongoing US/China trade war. With firms in distress due to overleveraged balance sheets and in need of liability management…
SPECIAL REPORT
International dispute resolution
Q&A: Energy sector arbitration in Latin America
FW moderates a discussion on energy sector arbitration in Latin America between Mark W. Friedman at Debevoise & Plimpton LLP and Ricardo A. Ampudia at Shook, Hardy & Bacon LLP.
Weighing up litigation, arbitration and mediation
Orrick, Herrington & Sutcliffe (UK) LLP There is a time and a place and a method for resolving every dispute. After all, every problem has a solution, however intractable or difficult it may seem. How a dispute unfolds depends on a multitude of factors – timing, the mindset of the parties…
The ultimate shield – strategies for a ‘good fit’ dispute resolution regime
New York International Arbitration Center (NYIAC) International commercial arbitration has been revolutionised in the modern era, defined by the expanding number of stakeholders, which includes arbitral institutions, arbitrators, academics, counsel, third-party funders and expert consultants…
International arbitration: the independence of party-appointed experts: fact or fiction?
Reed Smith LLP Expert evidence can play a critical role in the outcome of an arbitration. That outcome can in turn impact significantly the corporate balance sheet. Take, for example, a complex international infrastructure project which is in heavy delay and in which…
Expert determination for technical disputes – efficient alternative or jurisdictional battleground?
Ashurst LLP Expert determination is a form of alternative dispute resolution (ADR) in which parties refer disputes to an industry expert for resolution, whether binding or non-binding. Binding expert determination is often seen as a more efficient and cost-effective alternative to…
Norton Rose Fulbright The principle of caveat emptor, meaning ‘let the buyer beware’, has meant that sophisticated M&A lawyers have long since mitigated a buyer’s risk through expansive due diligence exercises and tight contractual controls. In particular, M&A deals feature often heavily negotiated…
Uncovering fraud: first response
Brown Rudnick Crisis hits. One of your company’s overseas branches reports an issue: missing funds. Is it a potential fraud? An accounting error? A software problem? Who do you turn to? It is essential that ever-watchful suspects are not tipped off, thereby allowing them time to…
TALKINGpoint
Evolving cyber risks in the financial services sector
FW discusses evolving cyber risks in the financial services sector with Nick Parfitt at Acuris Risk Intelligence.
Tackling beneficial ownership in shell companies
FW discusses tackling beneficial ownership in shell companies with David Sowden, Tom Townson and James Pomeroy at Grant Thornton (UK) LLP.
Fraud risk and insurance solutions
FW discusses proactive fraud risk and insurance solutions with Jonathan Pflieger at Tokio Marine HCC.
DEALfront
mergers & acquisitions
FCC approves $7.2bn Nexstar deal
Nexstar Media Group has completed its acquisition of Tribune Media Company for $7.2bn, including debt, following the announcement that the Federal Communications Commission (FCC) approved the sale. As a result of the deal, Nexstar is now the…
Ørsted to sell power unit for $3.2bn
In keeping with its vision of a world run entirely on green energy, renewable energy company Ørsted is divesting its Danish power distribution (Radius), residential customer and City Light businesses to fellow energy company SEAS-NVE for $3.2bn. The deal was agreed…
private equity & venture capital
Dream Global bought by Blackstone in $4.7bn deal
Funds managed by US-private equity firm Blackstone have agreed to acquire Dream Global Real Estate Investment Trust in an all-cash deal valued at $6.2bn, including debt. The deal will see Blackstone pay C$16.79 a share for Dream Global. The offer is…
TPG and Hong Leong to acquire Columbia Asia hospitals for $1.2bn
In a deal that will help grow Columbia Asia Hospitals’ footprint across South East Asia, conglomerate Hong Leong Group and global alternative asset firm TPG are to acquire 17 of the healthcare group’s hospitals and one of its clinics for an estimated $1.2bn. The transaction will…
bankruptcy & corporate restructuring
Purdue Pharma files for Chapter 11
In a landmark settlement, pharmaceutical company Purdue Pharma has reached an agreement in principle on a framework to protect itself, and its owners, from the thousands of federal and state lawsuits it faces for its role in the opioid crisis. Purdue is the manufacturer…
Despite frantic 11th hour negotiations, British travel firm Thomas Cook filed for voluntary liquidation in late September, after 178 years of trading. The firm, which employed over 21,000 staff worldwide, collapsed as it was unable to service its £1.6bn debt pile…
SPOTlight
Cleary Gottlieb Steen & Hamilton LLP Multiemployer pension plans (MEPP) are currently facing a severe funding crisis. These plans – which are jointly administered by union and employer representatives – are underfunded by an estimated $638bn, and the relevant Pension Benefit Guaranty Corporation’s (PBGC)…
Self-healing enterprise: how is AI changing the value profile of the enterprise?
Appnomic Systems Inc. For most digital enterprises, software and business have become intertwined to such an extent that it is difficult to separate the two. In other words, software outages, problem resolution delays and application development issues have all become business risks…
Impact of cyber security breaches and how organisations should react
Acuris Risk Intelligence Cyber security and the threat of being hacked and losing internal data, intellectual property or customer information should be keeping many individuals in business up at night. These threats are on the increase, as is the sophistication of the attacks and approaches..
Groundbreaking UK claim against Google will proceed
Shook, Hardy & Bacon LLP The Court of Appeal of England and Wales has revived Lloyd v. Google LLC, a representative action against Google LLC – a decision that could have far-reaching, costly implications for the future of data privacy litigation in the jurisdiction. In October 2018…
From handbags to hamburgers, no industry is immune from tech disruption
PJ SOLOMON The conversation around tech disruption has accelerated dramatically over the past few years. Whereas technology historically was about improving productivity, today’s discussion in boardrooms and the C-suite has shifted to how tech is influencing and disrupting…
CONTRIBUTORS
Acuris Risk Intelligence
Appnomic Systems Inc.
Ashurst LLP
Birch Lake Holdings, LP
BM&T
Brown Rudnick
Cleary Gottlieb Steen & Hamilton LLP
Debevoise & Plimpton LLP
Grant Thornton (UK) LLP
Kirkland & Ellis LLP
Kroll
New York International Arbitration Center (NYIAC)
Norton Rose Fulbright
Orrick, Herrington & Sutcliffe (UK) LLP
PJ SOLOMON
Reed Smith LLP
Shook, Hardy & Bacon LLP
Skadden, Arps, Slate, Meagher & Flom LLP
Tokio Marine HCC