find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (1-3 PAE)
Category: Insurance and Superannuation Law | Location: Sydney NSW 2000
· Join a dynamic Firm · Excellent career growth opportunity
View details
In-house lawyer 1-4 PAE
Category: Generalists - In House | Location: Adelaide SA 5000
· Leading Brand · Report to a Dynamic Legal Counsel
View details
M&A activity benefits from Turnbull boost

M&A activity benefits from Turnbull boost

Geoff Simpson, Allen & Overy

Malcolm Turnbull's ascension to Prime Minister could be good news for lawyers, with a recent M&A report suggesting it could have a positive impact on the level of foreign investment activity in Australia.

Allen & Overy’s global M&A Insights report for Q3 2015 said investor sentiment has improved since Mr Turnbull came into power in September.

The report pointed to Mr Turnbull’s background, particularly as an investment banker with Goldman Sachs, as a reason for many to think he will put a focus on restoring growth in the economy by loosening foreign investment controls.

A&O partner Geoff Simpson (pictured) said: “Certain commentators have suggested that Turnbull’s style, including his negotiating ability and persuasion skills, may increase the likelihood of successful negotiations with the unpredictable cross-bench and the Senate on key reform policies.”

As a result, foreign investment in Australian assets could see a significant uptick, providing more M&A work for law firms.

“FY2015 proved challenging, not just for Australia’s M&A markets, but for Australia’s economy generally,” Mr Simpson said.

Mr Simpson said this wasn’t related to any perceived political instability but more because of the general market volatility, which made it difficult for investors to assess Australian opportunities.

He pointed to the fall in the Australian dollar, favourable financing markets and low interest rates as the main contributors to the resurgence of mega-deals seen in the second half of 2014-15 and first quarter of 2015-16.

“That said, the reported renewal of business confidence since Turnbull’s appointment will no doubt compound any momentum in the M&A market,” Mr Simpson said.

The report also highlighted the need for Australia to find a new source of growth as the resources boom fades away, and suggested that infrastructure could fill that gap.

The proposed privatisation of key assets such as ports, power generation and electricity transmission and distribution grids is gaining momentum as state governments attempt to reduce public sector debt, which means infrastructure could be a busy area for M&A lawyers.

Mr Simpson emphasised that “knowing the market and the opportunities available across a range of industries is crucial to being able to position yourself strategically with potentially acquisitive clients”.

Like this story? Subscribe to our free newsletter and receive Lawyers Weekly every day straight to your inbox.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

M&A activity benefits from Turnbull boost
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Warning
07:03
NT Law Society sounds alarm on mandatory sentencing
The Law Society Northern Territory has issued a warning over mandatory sentencing, saying it hasn’...
Unite
Aug 22 2017
Professionals unite in support of marriage equality
The presidents of representative bodies for solicitors, barristers and doctors in NSW have come toge...
Aug 21 2017
Is your firm on the right track for gig economy gains?
Promoted by Crowd & Co. The way we do business, where we work, how we engage with workers, ev...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...