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COVER STORY

The road to achieving operational excellence

By adopting a holistic approach to OpEx and adapting to the rapid pace of technological change, companies can improve the customer experience and increase shareholder returns in a meaningful way.

FEATURES

Value beyond the deal: best practices for PMI

It is advisable for companies to devise a playbook on PMI that is tailored specifically to their internal teams, structures and ways of working.

Assessing domination: DOJ and FTC reinvigorate antitrust enforcement

The new DOJ and FTC draft guidelines build upon, expand and clarify frameworks set out in previous versions.

A game changer – is synthetic data set to revolutionise financial services?

In terms of innovation, synthetic data is not bound by compliance and regulatory restrictions in the same way as normal customer data.

Perils of multiplicity: probing the risks of overboarding

Directors that sit on an excessive number of boards run the risk of not having the time or capacity to contribute effectively to the work of each board.

Regime reform: UK government proposes new AML/CTF models

HM Treasury is considering structural reforms for the way AML and CTF requirements placed on firms are supervised and enforced.

ROUNDTABLE

Corporate fraud

Amid a volatile global environment, enforcement agencies remain focused on a range of potential fraud by corporations – activities that span a range of industries and offences. Old and new, the types of fraud have changed, as have the techniques being used to perpetrate them. FW moderates a discussion between Greg D. Andres at Davis Polk, Bruno Silveira at Kingfisher plc, Joydeep Sengupta at Mayer Brown, Eric Russo at Quinn Emanuel Urquhart & Sullivan LLP, Gerry Zack at the Society of Corporate Compliance and Ethics & Health Care Compliance Association, and Vanessa K. McGoldrick at Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates.

SPECIAL REPORT

Healthcare & life sciences sector

Q&A: Data analytics in life sciences

Using privacy by design techniques will allow life sciences firms to create and update their data protection posture in line with changing regulations. FW discusses data analytics in life sciences with Corey Dunbar and Jeff Lawton at BDO.

Strategic considerations in life sciences partnering

Davis Polk & Wardwell LLP Partnering transactions are never ‘one size fits all’. Instead, they are complex, bespoke arrangements that can take a variety of forms.

Cost-effective management of IP for life science companies

Stratagem IPM When cash is tight difficult decisions may need to be made in order to preserve existing intellectual property and cost effectively manage emerging IP.

Knee-jerk reaction to COVID-19 – lean times ahead for some

Burnet Duckworth & Palmer LLP Investors should be cautious of companies with a business plan centred on a pandemic response, especially since the largest portion of the value is derived from intellectual property.

Evaluating effort

Charles River Associates If contract terms used to describe the required level of effort are open to interpretation, identifying benchmarks may provide a reasonable first step in evaluating the licensee’s efforts.

EU regulation of artificial intelligence in healthcare

King & Spalding AI should be regulated taking into account the legal and regulatory principles and best practices already applicable to medicinal products and medical devices.

Q&A: Life sciences M&A

Current market conditions are fostering a more buyer-friendly environment than we have seen in recent years, which sellers should be prepared for. The transactional approach has changed as market players have become more risk averse. FW discusses life sciences M&A with Sonia de Kondserovsky, Andrew Gilbert, Qiang Li, Victoria Rhodes and Mathias Schulze Steinen at DLA Piper.

TALKINGpoint

Impact of the EU Foreign Subsidies Regulation

The determination of whether a specific contribution is reportable or not may require complex legal and economic assessment. FW discusses the impact of the EU Foreign Subsidies Regulation with Kai Struckmann, Katarzyna Berestecka, Douglas Tyler, Joris Van Malderen and Renaud Hendricé at Deloitte.

Cosmetics regulation and risk management

Global companies should be mindful of keeping their distribution models under review, ensuring geographical reach is only as intended and where products are fully compliant. FW discusses cosmetics regulation and risk management with Samantha Silver, Sarah-Jane Dobson, Miran Bahra and Katherine Ciclitira at Kennedys.

DEALfront

mergers & acquisitions

Danaher to acquire Abcam in $5.7bn transaction

As part of a drive to expand its portfolio of products and services, global science and technology innovator Danaher Corporation is to acquire protein consumables manufacturer Abcam plc.

BAE strikes $5.6bn aerospace deal

Ball Corporation agreed to sell a number of its aerospace assets to BAE Systems in a deal worth $5.55bn.

private equity & venture capital

Subway sold to Roark Capital

Subway announced it is to be acquired by affiliates of private equity firm Roark Capital. The deal brings to an end Subway’s six-month long search for a buyer, as well as the company’s near six-decade run as a family-owned business.

KKR acquires Simon & Schuster for $1.62bn

In a transaction that takes the US publishing company private, Simon & Schuster is being sold to private equity firm KKR by global media, streaming and entertainment company Paramount Global.

bankruptcy & corporate restructuring

Amyris files for Chapter 11 protection

Following the launch of a strategic transformation programme which involved cutting jobs to reduce costs, synthetic biotechnology company Amyris, Inc. has filed for Chapter 11 bankruptcy protection.

Wilko calls in administrators

UK retail chain Wilko filed for administration in August after months of teetering on the brink of financial collapse.

SPOTlight

M&A – recent trends in the German market

Cleary Gottlieb Steen & Hamilton LLP The current M&A market has its challenges – probably more so than in the past – but it also comes with rewards that are not less attractive than they were in the past.

Regulators rage against the artificially intelligent machines

Latham & Watkins LLP While regulators across the world often tout that they are technology neutral, it is worth considering whether proposed rules address risk or the tool itself.

UK commits to new ISSB sustainability disclosure standards for capital markets – are you prepared?

Norton Rose Fulbright LLP The standards are a major milestone, having received strong support from both investors and policymakers.

The proposal for a Corporate Sustainability Due Diligence Directive – potential rise in D&O claims?

Poul Schmith The proposed directive on corporate sustainability due diligence is expected to impose several new obligations on management.

Click here to view our latest ExpertBriefing articles

CONTRIBUTORS

BDO

Burnet Duckworth & Palmer LLP

Charles River Associates

Cleary Gottlieb Steen & Hamilton LLP

Davis Polk

Deloitte

DLA Piper

Kennedys

King & Spalding

Kingfisher plc

Latham & Watkins LLP

Mayer Brown

Norton Rose Fulbright LLP

Poul Schmith

Quinn Emanuel Urquhart & Sullivan LLP

Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates

Society of Corporate Compliance and Ethics & Health Care Compliance Association

Stratagem IPM