Following the release of initial guidance in the form Notice 2023-2, the U.S. Department of the Treasury (Treasury) and IRS issued proposed regulations (the Proposed Regulations) under the Section 4501 stock repurchase excise...more
Intense competition to deliver on-demand content accelerates dealmaking in the sector - The entrance of tech-first players, such as Netflix and Amazon, into the global media industry has pushed the industry to react—and...more
On July 7, 2021, the Japan Ministry of Finance (MOF) published an updated list of classifications of companies listed on Japanese exchanges requiring prior notifications of inward direct investment under the Foreign Exchange...more
The COVID-19 pandemic hit Chinese M&A hard in Q1, but the second quarter has already witnessed a remarkable recovery with a total of 434 deals announced—an increase of 56% on Q1. Value also rebounded strongly, with deals...more
The Conservative Party’s conclusive win in the U.K.’s recent general election paves the way for long-anticipated and decisive reforms to the country’s national security screening regime. The government first outlined its...more
A Summary and a Business Decision-Maker's Chart for the Path Forward - On January 13, 2020, the U.S. Department of the Treasury issued final rules fully implementing the new powers granted to the Committee on Foreign...more
Japan expanded the scope of industries subject to prior notification for Inward Direct Investment in 2019 - Under the Foreign Exchange and Foreign Trade Act (FEFTA), the Ministry of Finance (MOF) and the relevant...more
The Federal Ministry for Economic Affairs and Energy further tightened foreign direct investment control, but the investment climate remains liberal - Pursuant to the German Foreign Trade and Payments Act...more
The Situation: The Australian Taxation Office ("ATO") has broadened its role in the process for reviewing foreign investment proposals, through closer engagement with foreign investors pursuing acquisitions, mergers and...more
The unique needs of ultra-high net worth families, their family office representatives and other advisers are multidimensional and ever-evolving. Join us November 21 for McDermott Will & Emery’s Private Client East Coast...more
On September 10, 2019, the State Administration of Foreign Exchange (SAFE) held a press conference in which it announced that it would be removing the investment quota limitations on two inbound investment schemes – the...more
The US M&A market delivered a surprisingly robust first half, with total value rising 9 percent year-on-year. Volume, on the other hand, dipped 21 percent. Defying all odds, US M&A value rose in the first half of 2019....more
Financial institutions M&A sector trends: specialty finance/marketplace lending — H1 2019 and outlook for H2 2019. CURRENT MARKET - Upward, marginal. WE ARE SEEING: - Market consolidation across product lines -...more
In 2018, the US M&A market has seen marked robust domestic activity and a strong tech sector but declining inbound dealmaking. We examine the four key factors that could characterize 2019. The past year has been mixed for...more
The U.S. tax act enacted in December 2017 includes a number of provisions that impact high net worth families with U.S. connections. For families with U.S. members, changes to the estate, gift and generation-skipping transfer...more
• The House and Senate proposed companion bills that would expand the scope of CFIUS review by broadening the definition of covered transactions to include certain minority investments and joint ventures, among other...more
Germany is the largest inbound market for alternative and traditional fund investments by institutional investors in the European Union. German insurers, pension funds, pension schemes (Versorgungswerke), corporate investors...more
The German government agreed last week to amend the German Foreign Trade and Payments Ordinance (AWV) to address potential concerns raised by foreign investments in certain sectors of the German economy. The amended AWV...more
The U.S. Department of Commerce, Bureau of Economic Analysis (BEA), conducts mandatory surveys to collect information on direct investment. There are three (3) specific surveys which track “out-bound” foreign investment: a...more
The U.S. Department of Commerce, Bureau of Economic Analysis (BEA), conducts seven (7) mandatory surveys to collect information on direct investment. These seven surveys consist of an initial survey for any new in-bound...more
Businesses making investments in the United States, directly or indirectly, are required to report this investment to the United States government. This “in-bound” investment is reported to the United States Department of...more
U.S. lawmakers recently submitted a letter to the Government Accountability Office (GAO) raising concerns about increased Chinese investments in the U.S. film and entertainment industry and questioning whether the Committee...more