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
Corporate Lawyer
Category: Generalists - In House | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· 12 months fixed term opportunity
View details
Property lawyer - Melbourne
Category: Property Law | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Impressive client list, national firm · Well-led and high-performing team
View details
Deal resurgence kindles 2010 hopes

Deal resurgence kindles 2010 hopes

An M&A deal resurgence in the fourth quarter of 2009 has sparked hopes of a recovery in global deal-making in early 2010, with law firms worldwide advising on $US628.6 billion ($675.05…

An M&A deal resurgence in the fourth quarter of 2009 has sparked hopes of a recovery in global deal-making in early 2010, with law firms worldwide advising on $US628.6 billion ($675.05 billion) of deals, an increase of 90 per cent on the previous quarter.

According to Mergermarket, the fourth quarter was the best since the third quarter of 2008 in value terms, and the biggest ever for Asian deals, valued at $175.1 billion, eclipsing a previous record of $141 billion set in the fourth quarter of 2006.

However, total value and volume for the full year 2009 finished 27 per cent down on 2008, indicating that overall it was "not a good year for M&A".

The research group's 2009 league tables were topped by US firm Skadden, Arps, Slate, Meagher & Flom, with 171 deals valued at $331.2 billion. Jones Day, Freshfields and Linklaters were the top three volume players, with more than 200 deals each.

Blake Dawson entered the value league tables ranked 24 thanks to its representation of BHP Billiton in the $58 billion joint venture with Rio Tinto. The mega-deal was second in value only to pharmaceutical giant Pfizer's $US63 billion acquisition of Wyeth.

The year saw a dramatic rise in insolvency transactions, as opportunistic buyers with available capital took advantage of distressed companies. Insolvency deals were up a mammoth 370 per cent on recorded deals for 2008, and were valued at $95.5 billion.

There was also a boost in the number of mega deals in 2009, with four transactions worth more than $40 billion, up on the three recorded in 2008.

The Mergermarket report stated that despite continuing uncertainty in the markets, there are signs that fourth-quarter momentum would carry through into 2010. "A resurgence in financial sponsor activity, corporates sitting on record levels of cash, and a thawing credit market could signal a good year for M&A dealmakers," the group said.

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

Deal resurgence kindles 2010 hopes
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Warning
Aug 23 2017
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 The way we do business, where we work, how we engage with workers, even how we take a...
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 & ...