Category: Market Updates
The Private Equity Developments That Defined 2024
Your essential recap is here Private equity in 2024 was marked by evolving deal dynamics, strategic shifts and heightened regulatory scrutiny. Which significant developments made the biggest waves? Find out with Cooley’s 2024 Private Equity Year in Review, where we take a closer look at the influential trends impacting the […]
Antitrust in 2025: Shifting Sands and What to Expect
In the US, the election of Donald Trump for a second term has significant implications for antitrust enforcement at the Antitrust Division of the Department of Justice (DOJ) and the Federal Trade Commission (FTC). New leadership is expected to implement an agenda that hews more closely to traditional antitrust norms […]
Cooley’s 2024 Tech M&A Year in Review: We’re So Back (It’s So Over)
There’s nothing people love more than a good comeback story. After a rough 2023, tech M&A in 2024 was slow to start but ended the year strong, with deal values up 32% from 2023, well outpacing the overall M&A market’s 10% growth in 2024. Over the course of the year, […]
Cooley’s 2024 Activism Year in Review: Activists Ascendent
2024 was a prolific year for activists, with 243 campaigns launched globally – the highest number since 2018. US activity was up modestly, and a busy year in Asia offset a quieter year in Europe. With the 2025 proxy season in full swing, let’s take a fresh look at the […]
Cooley’s 2024 Life Sciences M&A Year in Review: M&A Slims Down in 2024, but Will Appetites Grow in 2025?
With every new year comes reflection and resolutions. But as we go to press well into January, it is worth a reminder that studies show nearly 90% of New Year’s resolutions will have already failed by the end of the month. Fortunately, for those with the ever common resolution to […]
Recent Release of Updated Procedures for Section 355 Private Letter Rulings
The US Department of the Treasury (Treasury Department) and the IRS recently released Revenue Procedure 2024-24 (Revenue Procedure) and Notice 2024-38 (Notice) establishing revised standards and procedures for taxpayers seeking private letter rulings for spin-offs intended to qualify for tax-free treatment under Section 355 of the Internal Revenue Code (Code). Much of the Revenue […]
Representation and Warranty Insurance for M&A Deals: Cooling Market and Emerging Trends
While representation and warranty (R&W) insurance continues to be used across a broad range of M&A transactions, its use has cooled as dealmakers navigate challenging market conditions. Even for deals that are getting done, a smaller percentage of private deals have included R&W insurance than in recent, more robust M&A […]
Cooley’s 2023 Tech M&A Year in Review: An AI-Generated Glass Half Full
2023’s much-discussed downturn in mergers & acquisitions – with global M&A volume and value down 6% and 17%, respectively, from 2022 – was largely driven by the slowdown in the tech sector, with global tech M&A volumes down 51% year over year, while other sectors saw marked increases.[1] The headwinds […]
Cooley’s 2023 Activism Year in Review: Wolf Packs at the Gate
As we look ahead to the 2024 proxy season (and beyond), let’s review the key 2023 trends and developments from activism playbooks, with a sharp focus on the ever-changing landscape in the technology and healthcare sectors. Momentum building for 2024? Globally, 229 campaigns launched in 2023, just under 2022 campaign […]
Cooley’s 2023 Cross-Border M&A Year in Review: Navigating Choppy Waters Into a More Buoyant 2024
Cross-border M&A activity in 2023 was impacted by heightened geopolitical conflicts, high inflation and interest rates, and increased regulatory pressures as the global economy remained clouded by looming recession fears. Deal financing became more difficult and expensive, placing more emphasis on alternative funding and value creation. In such an environment, […]