Global acquisition quest near record high
The appetite for acquisitions increased in the first quarter of 2017 with more than half of executives planning deals.
That’s one of the findings of a survey of 2,300 executives in 43 countries by Ernst & Young (EY) with 56 per cent of companies intending to make acquisitions, up 6 percentage points from a year ago.
Most (96 per cent) executives expect the M&A market to improve or remain stable over the next year and while geopolitical issues may be grabbing the headlines, there is something higher on the risk agenda, the survey found.
“Geopolitical and policy uncertainty is a permanent feature of the boardroom, but technology-enabled disruption poses a greater challenge to many business models,” said Steve Krouskos, EY Global Vice Chair – Transaction Advisory Services. “The exponential pace of disruption and transformation is compelling executives to engage in M&A. Companies need to innovate to follow rapidly changing customer preferences and buying assets can be the fastest way to radically reshape their business for future growth.”
The US, China, UK, Germany and Canada top the deal destinations with around three-quarters of respondents saying that Brexit and the Trump administration will either increase or not impact deal activity.
Law firm welcomes Australian funding cuts reversal
Maurice Blackburn Lawyers has welcomed the Australian federal government’s decision to reverse funding cuts for community legal centres.
The social justice law firm says it is a critical measure to ensure that disadvantaged Australians have access to justice and is calling on all levels of government to protect the centres.
“The law should serve everyone, not just those who can afford it and community legal centres play a vital role in helping to ensure access to justice for disadvantaged Australians,” said the firm’s head of social justice Jennifer Kanis.
She added that the decision not to cut funding was long overdue and that the centres should never have been placed in jeopardy in the first place.
New partners for international firm in China
Ince & Co has added two new partners to its team in mainland China.
The international firm has promoted Fai Mao in Beijing, whose broad practice focuses on general commercial litigation and arbitration, with an emphasis on aviation, shipping, commodities, and cross-border commercial disputes.
Also making partner is Shanghai lawyer Shirley Li, who specialises in shipping, international trade and insurance.
Both women have been with the firm for more than a decade and their promotions are effective 1st May 2017. Also promoted is London disputes lawyer Carl Walker.