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DTSTAMP:20260426T191331Z
DTSTART:20230511T150000Z
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SUMMARY:Busted and almost busted deals: best practices when things go wro
 ng?
DESCRIPTION:Many large mergers and acquisitions are abandoned before clos
 ing because of value-creation\, regulatory and political issues. Even pr
 e-pandemic\, a McKinsey survey of the period 2013-2018 showed that 10% o
 f large M&amp\;A deals failed. The pandemic worsened this: by September 
 2020\, 82 deals had been abandoned (vs 58 transactions in same period in
  2019). Prior to LVMH initially pulling out in September 2020 of its US$
  16n\,2 billion takeover of Tiffany (initially announced in November 201
 9) invoking a French government order following a spat between the Trump
  administration and France over tariffs on luxury goods\, L Brands Inc. 
 and Sycamore Partners had litigated before agreeing ultimately in May 20
 20 to cancel the take private of Victoria Secret. Following court hostil
 ities\, Tiffany and LVMH settled on new deal terms in October 2020 with 
 a 2.6% cut on the price per share\, and the litigation was ultimately se
 ttled in January 2021. The September 2020 offer by Nvidia for Arm was de
 clared dead in February 2022 following a FTC lawsuit and opposition from
  the regulators in Britain. The German government blocked the acquisitio
 n of a German semi-conductor manufacturer by a Chinese buyer in late 202
 2. Things in the Microsoft’s acquisition of Activision Blizzard are equa
 lly getting heated as three regulators line up against the deal. A panel
  of experience deal makers with Texposuruesday 17 Januarye to busted but
  also to successful deals will give you their view as to do’s and don’ts
 .
LOCATION:Verdi Room\, Dom Pedro Lisbon
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