Wachtell Lipton Discusses Disclosure Issues Relating to COVID-19

Among the many issues facing public companies as a result of the COVID-19 pandemic is how to handle disclosure.  The pandemic is having a material impact on most companies.  While in a few cases the crisis may actually be increasing demand for a company’s products or services, in the overwhelming number of cases, the business impact is negative.  The pandemic may affect operations, employees, customers, supply chains, outlook, stock trading, risk factors, and a variety of other aspects of a company’s business, results and prospects.  Internal disclosure controls should also be reviewed to ensure that the company is eliciting and … Read more

Wachtell Lipton Discusses Mergers and Acquisitions—2020

Despite ebbs and flows of global economic uncertainty, M&A activity remained robust in 2019.  Total deal volume reached $4 trillion globally, a slight decrease from the $4.1 trillion volume in 2018, but higher than the $3.5 trillion in 2017.  The U.S. M&A market had a particularly strong year.  15 of the 20 largest deals involved U.S. companies, with deals involving U.S. targets totaling over $1.8 trillion, second only to the record of over $2 trillion set in 2015.  While deals over $10 billion fell from 60 globally in 2018 to 49 in 2019, deals over $25 billion increased from 16 … Read more

Wachtell Lipton Discusses Mergers and Acquisitions — 2019

As a whole, 2018 proved to be another strong year for M&A.  Total deal volume reached almost $4.2 trillion globally, higher than the $3.7 trillion volume of 2017, but still less than the record of over $5 trillion set in 2015.  Deals involving U.S. targets totaled over $1.7 trillion, compared to approximately $1.5 trillion in 2017.  The number of large deals significantly increased in 2018, with 60 deals over $10 billion announced globally (compared to 46 deals in 2017).  The technology sector saw the largest deal volume, followed by healthcare, oil and gas, and real estate.  Private equity firms also … Read more