Category: Market Updates
Cooley’s 2025 Tech M&A Year in Review: Tech M&A Revival – Big Deals Keep on Turnin’
Despite early macro-headwinds, tech dealmakers were active in 2025, anchored by strategic acquirers making decisive moves to improve their positioning in a rapidly changing market environment and private equity sponsors undertaking audacious mega-cap take-privates not seen since 2007. Tech M&A increased 36% and 9% year over year by deal value […]
Cooley’s 2025 Activism Retrospective
Activists enjoyed a banner year in 2025. From proxy contest wins at blue-chip companies to a partnership with Taylor Swift’s fiancé, engaged shareholders once again demonstrated their capabilities, creativity and readiness. As we discussed in the fall, this year’s activism menu also included the rise of “withhold” campaigns, notable Delaware […]
So, you think you can (deal) jump?
As the M&A market fires on all cylinders, we’re seeing a sharp uptick in both competitive sale processes and deal jumps of announced public transactions across sectors, most notably the ongoing hostile bid for Warner Bros. Discovery by Paramount and the explosive bidding war between Pfizer and Novo Nordisk for […]
Activism in 2025 and Beyond: Universal Proxy, Litigation Leverage and a New Playbook for Preparedness
Activism didn’t pause in 2025 – it evolved. Campaign counts are up, tactics have multiplied, and boards are settling faster and earlier. As Goldman Sachs’ Neil Rudisill put it on Cooley’s Market Talks panel, “We’re on track for probably the third largest year ever in terms of activism,” with US […]
The Private Equity Developments That Defined 2024
Your essential recap is herePrivate 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 investment […]
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 […]