Dealcast: The M&A Podcast

Wall Street had a banner 2020, with record indices across the board. Will Financial Services M&A follow suit? Download our brief – Financials Services M&A: Consolidation & Innovation for analysis and insight into this sector.https://www3.intralinks.com/financial-services-market-brief-enClear Advantage

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Seyfarth’s Paul Pryzant and SRS Acquiom's Chris Letang join Tom Cane to discuss how the shift from a seller’s to a buyer’s M&A market this year has impacted the deal terms being agreed in the mid-market, from an increase in earn-outs and termination fees to the impact of the pandemic on reps and warranties. Paul and Chris also discuss how technology is changing the due diligence process.

No sector is closer than healthcare to the front-lines of the covid-19 pandemic. Not only is the pandemic shaking up businesses in the sector, it is creating opportunities for dealmaking. Indeed, Thermo Fisher’s [NYSE:TMO] proposed takeover of diagnostics firm Qiagen [NYSE:QGEN] shows how the crisis can make the case for M&A. In this week’s podcast, Mergermarket healthcare editor Mintoi Chessa-Florea, Mergermarket healthcare reporter Davide Salvi and Dealreporter analyst William Cain join us to discuss the sector. At issue are: pre-covid-19 M&A trends, the effect of the pandemic on business cases, the effect of the pandemic on M&A and ECM, and the outlook for Qiagen/Thermo Fisher.

US asset and wealth management M&A saw a significant uptick before the coronavirus pandemic, fueled in part by aging registered investment advisors looking to sell at high valuations amid a booming stock market. While current volatility has put the brakes on activity, some deals are still getting done and the longer term prospects look healthy, notably driven by strong interest from private equity. Raymond James’ Liz and Peter Nesvold recently joined host Tom Cane to discuss the unfolding landscape for the sector. It's a time for companies to learn good habits in bad times and position themselves for future opportunities. According to Mergermarket data, Raymond James has been one of the most active investment banks in the field, with recent deals including advising Stratos Wealth Holdings on a strategic minority investment from Emigrant Partners.

Bill Curtin, Hogan Lovell’s global head of mergers and acquisitions, recently joined Mergermarket managing editor Tom Cane to discuss the impact of COVID-19 on M&A activity both in the immediate future and on the longer term horizon. What are companies and advisors doing now to get through this unprecedented challenge? Where will opportunities emerge and who is best placed to capitalize on them? 

In this podcast episode Mergermarket’s Latin America editor Thiago Barrozo talks with Stephen Marks, Managing Partner of Miami-based investment and financial advisory firm Emmersion, on investment trends and M&A opportunities in Latin America, the impacts of the trade standoff between China and the US in the region, and the sentiment of US investors towards the recent social and political turmoil in Latin American countries like Bolivia, Chile and Venezuela.

Dealcast is a podcast covering M&A, ECM, shareholder activism and other corporate activity.As activist investors broaden their scope and adjust their tactics, more buysiders are adopting activist tactics.Some activists are now looking to create value by improving companies’ ESG performance. Meanwhile, their targets often prefer closed-door engagement – a wish which activists are increasingly accommodating.Add to this the emergence of such funds as The Church Commissioners for England to the ranks of those engaging in forms of shareholder activism.Big changes are underway in this space.Activistmonitor’s William Mace and Claudia De Meulemeester joined us to talk about these emerging trends in shareholder activism.

In a conversation with host Tom Cane, Morgan, Lewis & Bockius LLP’s Keith Gottfried and Acuris’ Ed Mullane tell the story of North American shareholder activism, picking apart its evolution from a practice with a deep value approach of investing in dysfunctional, illiquid small-cap companies to one that focuses on larger, successful companies, where the activist comes in with a thesis to unlock value, often through M&A. Why has this shift taken place over the years, and where is activism heading? What kind of M&A demands are we likely to see this year?

Could tomorrow’s groceries come from a lab? Today’s vertical-farming startups aim to grow food in tightly controlled indoor stacks, solving a host of problems – blight, water wastage and a shortage of land – at once. Leading the way are such firms as the UK’s Intelligent Growth Solutions, Belgium’s Urban Crop Solutions and Italy’s Planet Farms, all of which featured in recent Mergermarket coverage of the space. Their expansion already offers an investment opportunity for venture capital and private equity, and some early pacesetters, such as Finland’s Netled, are eyeing public listings. Mergermarket’s Barbara Pianese joined us to talk about this intersection of grocery retail, tech and agriculture.