2024 Insights: Corporate Trends

Skadden’s 2024 Insights

Global M&A Activity Endures Headwinds in 2023 and Displays Resilience Going Into 2024
Despite market headwinds, dealmakers have looked to carveouts, spin-offs, joint ventures and other creative deal structures to engage in M&A activity, but it is taking longer to hammer out deal terms.

Gray Zone: When a UK-Incorporated Company Is Protected by Neither the UK Takeover Code nor US Law
Some U.K.-incorporated companies listed in the U.S. could find that the U.K. Takeover Code does not protect them in the event of a hostile or speculative bid, and that the defenses available to U.S. companies are not applicable.

Europe Increasingly Turns to Special Committees in Transactions Involving a Controlling Shareholder
Although many European companies have controlling shareholders, independent special committees have not played the crucial role they do in the U.S. That is beginning to change.

Market Opportunities for Cross-Border M&A in China Persist Despite Regulatory Changes and Trade Tensions
New trade and investment restrictions notwithstanding, foreign companies and private equity firms continue to seek M&A opportunities in China, and Chinese businesses are buying assets and realigning operations abroad.

How Companies Are Adapting to Volatile Capital Markets and Planning Ahead
From navigating volatility to optimizing balance sheets and exploring creative financing strategies, both companies and investors were able to successfully manage market challenges in 2023 to be ready for opportunities in 2024.

Chinese Issuers See Progress on US Audit Issue and HKEX Reforms, but US Policies Could Impact Tech Companies
Progress on U.S. audit inspections will help China-based companies, as will liberalization of HKEX rules. But China is more closely monitoring offshore capital market transactions, and new U.S. restrictions could affect certain tech companies.

A Decades-Old Question Answered: Term Loans Are Not Securities
The Second Circuit recently laid to rest the argument that the terms of syndicated term loans are now so similar to those of high-yield bonds that they should be subject to federal and state securities laws, including registration, disclosure and trading rules.

Adapting to a Dynamic Commercial Real Estate Landscape
As reduced demand and higher rates take a toll on commercial real estate, lenders are demanding more protections, and borrowers with maturing debt need to develop strategies. The stress will create opportunities for those with capital.

Climate Change and Its Undeniable Impact on Insurance: How To Respond?
Climate change will interfere with insurers’ risk predictions and pricing policies. They may need to work with clients on new types of coverage, apply novel technology and collaborate with governments and other entities.

Exits, Ring-Fencing and Other Risk Management Strategies for Multinationals Operating in Geopolitically Volatile Area
With a growing risk of geopolitical disruptions, multinationals should devise contingency plans for vulnerable local businesses, such as that range from structures that ring-fence the business and to exit, cash management and supply chain strategies.

See all of Skadden’s 2024 Insights