Managing spinoff transactions with a sophisticated tax overlay

Managing spinoff transactions with a sophisticated tax overlay
By Cathy Birkeland & Mark D. Gerstein & Ryan Maierson & Laurence J. Stein & Pardis Zomorodi & Alexa Berlin

To ensure the successful execution of a transaction for both SpinCo and RemainCo, both companies need to position the carveout to successfully operate as a stand-alone company.   

The authors of this paper look at the complex duties of care and loyalty that are unique to carveouts and consider the methods deal team should employ to structure this type of transaction, satisfy disclosure requirements, and ensure tax-free value creation through...

Read more

New research compares M&A strategies and overall shareholder returns

New research compares M&A strategies and overall shareholder returns
By Mr. Jeff Rudnicki & Mr. Andy West & Kate Siegel

Companies that regularly pursue moderately-sized transactions generally outperformed peers, according to research conducted by the authors of this paper, which studied overall shareholder returns versus transformational deals.

The research showed the most successful companies are placing “multiple bets” and being “nimble with [their capital]” while making several acquisitions even...

Read more

Disruptive M&A: Creating value through innovation-led acquisitions

Disruptive M&A: Creating value through innovation-led acquisitions
By Mr. Iain Macmillan & Mr. Sriram Prakash & Mr. Larry Hitchcock & Mr. Paul Dunn & Mr. Steve Maddox & Mr. Shyam Ramdevkrishna

"Disruption" is a flashy buzzword that is increasingly finding new applications in different industries. The M&A industry has not escaped disruption, in fact, disruptive innovations are forcing CEOs to carefully monitor market threats and prioritize harnessing disruptive technologies. Across all sectors including health, finance, retail, and media, disruption is driving innovation and competition at a record pace. 

Read more

2019 M&A leaks report

2019 Annual M&A Leaks Report

The 2019 Intralinks M&A Leaks Report chronicles deal leaks across the international M&A market. This year, Intralinks analyzed deal leaks from 2009 to 2018, focusing specifically on leaks during 2018. This report was compiled in conjunction with the M&A Research Centre at Cass Business School, City, University of London.

Read more

Creating a modern governance framework around corporate purpose

Creating a modern governance framework around corporate purpose
By Martin Lipton

Board members are increasingly facing challenging demands from shareholders, legislators, and government agencies to improve corporate governance practices and preserve shareholder value.

This paper reconsiders a corporate governance roadmap for boards to demonstrate thoughtful leadership aligned with growing shareholder activism and legislative pressures around the importance of corporate purpose that creates...

Read more