Asia-Pac’s “significant boom” in M&A
An international law firm has published its annual Global M&A Trends report which shows strong growth for Asia-Pacific. Despite concerns over China’s economic growth Clifford Chance
says that 2015 has shown a “significant boom” for the region’s M&A activity. The annual increase has been 62 per cent with a 65 per cent rise in inter-regional deals driven by Chinese and Japanese companies seeking international expansion. Conglomerate restructuring has also played a strong part in the growth of regional M&A.
Globally the report cites TMT and healthcare as strong sectors for activity with US firms in particular looking to consolidate to increase scale and access new products. Inversion deals have also been high in the US, with companies acquiring overseas businesses and relocating to the target’s jurisdiction for more favourable tax regimes. The US accounted for just over half of all global M&A activity having seen a 58 per cent rise from 2014.
Bird & Bird announces expansion intentions
The London office of Bird & Bird intends to increase headcount by 25 per cent and to relocate all of its lawyers under one purpose-designed roof. The international firm is moving into a specially-commissioned building over 12 floors in the heart of the city’s legal district. The new premises include a client-focused business lounge offering a relaxed environment where the firm’s clients can catch up on work and grab a coffee alongside lawyers. The lounge is especially focused towards international clients.
Presidential candidate in $500 million beauty contest lawsuit
Donald Trump may be hoping to become the most powerful leader in the world but he isn’t taking his eye of business dealings. The potential US President’s lawyers filed papers in a federal court in June claiming damages of $500 million from a Spanish TV network which has decided to end a contract to show the Miss USA pageant, partly owned by Trump. The network, Univision, asked the court to throw out the lawsuit late last week because it “fails to sufficiently plead critical elements of every claim asserted.” Trump says the TV company is in breach of contract and also claimed defamation for the network’s comments that he had made insulting remarks about some Mexican contestants. That was the reason given by the network for cancelling the broadcast.