Jeff Kirby’s Post

A major reform of Australia's #competition rules, especially those in respect of #mergersandacquisitions, is to be introduced with the aim of addressing a decline in competition and its impact on economic prosperity. Rob Harkavy reports. ACCC #competitionlaw https://lnkd.in/eGTF-iqx

Public M&A in the UK soared in 2024 with a slew of megadeals, and activity looks to be robust in 2025, with reduced political, inflation and interest rate uncertainty. Take-privates and share-for-share offers have become more common. George Knighton | Ani Kusheva | Simon Toms | Craig Kelly #mergersandacquisitions #europe #privateequity #antitrust #uk

2025 is shaping up to be an interesting year for M&A activity.   As part of a broader outlook for the year ahead, one of the trends we're seeing is the changes to Business Property Relief under Inheritance Tax, which could make the traditional route of passing businesses down through generations less attractive.   This, among other trends, is expected to drive more family-run businesses to explore the option of selling, opening up opportunities for investors in the market 🏠   With a growing demand for businesses with strong growth potential, family owners will need to carefully consider their options to maximise value 📈   For insights into the UK M&A market for the year ahead, read more here: https://lnkd.in/e34qQf6m   #MergersAndAcquisitions #PrivateEquity #CorporateFinance

💬 "Despite clear challenges, the long-term opportunities for UK smaller companies remain and if we scratch under the surface, there are some strong stories to tell." 🗣️ Abby Glennie, Deputy Head of Smaller Companies at abrdn, on why supportive measures to boost share ownership and IPOs could add some much-needed oil to the UK economy. Read more: https://ow.ly/XxnI50RE7Yu

UK dealmaking falls to four-year low New figures from the Office for National Statistics show UK M&A volumes dropped 16.8% in Q2 compared to Q1 which is its lowest level in four years. Total transaction values fell from £13.8bn to £11.8bn. Sources cited the UK General Election as a major reason for the drop in Q2 but also suggested that imminent CGT rises are driving increased volumes ahead of the end of Q3. Full story below: https://lnkd.in/eCJZghPq #lawyers #lawfirms #marketing #SimonSays

That's a wrap for 2024 M&A activity. Corporate buyers led the charge for much of the year as private equity faced headwinds, including high borrowing costs and a sluggish exit environment. In terms of U.S. activity, the B2B sector dominated, accounting for 23.2% of total deal value and 38.8% of deal count. Looking ahead to 2025, the M&A market faces both optimism and uncertainty, driven largely by the new administration and change in FTC leadership.

It was a huge day for the London Stock Exchange today as the Financial Conduct Authority made the most sweeping reforms to the UK listing regime in decades. The changes are certainly a leap forward for companies looking to list in the UK and has the potential to revitalise the London IPO market. The shift in disclosure requirements removes significant regulatory friction for companies seeking to list on the LSE and new dual-class structures create a more attractive environment for pre-IPO shareholders and brings London into line with other jurisdictions like NY. Entrepreneurs considering a listing may also appreciate the change in rules that has dropped the requirement for a shareholder vote in Class 1 transactions, putting public companies on an equal footing when it comes to M&A. But there is more work to do particularly on freeing up domestic capital to invest in UK equity. Lucinda Guthrie and I put together a piece for the Evening Standard sharing our thoughts on today's big news and the challenge ahead for new UK Chancellor Rt Hon Rachel Reeves. Have a read here: https://lnkd.in/dDbHi6qa Let me know what you think! #UK #LSE #listing #ipo #deals #businesses #fca

My Weekly Commercial Post: Key Insights on UK Inflation and Share Buybacks 🌍 UK Inflation, Interest Rates, and the Legal Sector Read More: https://lnkd.in/gJhz4jMD Implications for UK Legal Practices 1. Fluctuations in interest rates and inflation can lead to increased corporate restructuring and refinancing activities. Legal practitioners will need to provide strategic advice on navigating these economic shifts, including renegotiating loan agreements and assessing the impact on mergers and acquisitions. 2. Interest rate changes directly affect mortgage rates, influencing property transactions. Lawyers specializing in real estate may see a surge in clients seeking guidance on property investments, refinancing, or potential defaults. 3. Economic uncertainty can lead to workforce adjustments. Legal advisors will play a crucial role in ensuring that any redundancies, contractual changes, or policy updates comply with employment regulations. 📈 UK Companies Surpass US in Share Buybacks Read More: https://lnkd.in/gaEukB-f Key Factors Influencing This Trend: Shift from Dividends to Buybacks: Traditionally, UK firms favored dividends to return capital to shareholders. However, there's a notable shift towards buybacks, offering companies greater flexibility and signaling potential undervaluation. Market Valuations: The FTSE All Share index currently has a price-to-earnings ratio of approximately 12.4, significantly lower than the S&P 500's nearly 28. This disparity suggests that UK companies may view buybacks as an opportunity to repurchase undervalued shares, enhancing shareholder value. High-Profile Buybacks: Major UK corporations, including Shell, HSBC, and Centrica, have executed substantial buyback programs, collectively committing over £56.9 billion in 2024 and more than £50 billion in each of the preceding two years. Implications for UK Legal Practices: 1.The increase in buybacks necessitates meticulous adherence to corporate governance standards. Legal professionals must ensure that these transactions comply with regulatory requirements and align with shareholder interests. 2.With the rise in buyback activities, companies must navigate complex legal frameworks to avoid market manipulation and ensure transparency. Legal advisors play a crucial role in guiding firms through these regulatory landscapes. 📌 What are your thoughts on these developments? Let’s discuss how these changes could reshape the legal and business landscapes! #CommercialAwareness #LegalInnovation #UKEconomy #CorporateLaw #LegalInsights

We estimate that an additional 350 UK businesses were sold in October in advance of the budget to pre-empt increases in capital gains tax. I accept that lots of the proceeds, especially from the plc takeovers, may be going to institutional and overseas investors but these are the minority. If we ignore Entrepreneurs' Relief and take an average deal value of £10 million the budget 'accelerated' capital proceeds to entrepreneurs of £3.5 billion. At a 20% CGT rate this is £700 million of incremental proceeds to the Treasury. You can do your own maths but the outcome is clear - scaring businesses owners into an exit with rumours of draconian tax rises led to the biggest month for UK exits on record. #sme #corporatefinance #mergersandacquisitions #accountants