

M&A Lawyers vs. Bankers: What’s Changed and What Still Matters with Rob Kindler
50 snips Jun 12, 2025
Rob Kindler, a seasoned partner at Paul, Weiss and former head of global M&A at Morgan Stanley, shares his insights into the evolving landscape of M&A. He discusses why legal advisors have become the first call in deal-making, the impact of corporate development teams on sourcing, and how negotiation strategies have shifted. Rob emphasizes the crucial role of regulatory strategies in deal success and offers real-world examples of complex transactions, blending his extensive experience from law and banking to illuminate current M&A practices.
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Lawyers as First Call in M&A
- Legal advisors have become the first call in M&A deals due to regulatory and structural complexities.
- Lawyers guide early deal structuring and regulatory strategy more than bankers, who now focus later in the process.
Avoid Shareholder Approval Risks
- Shareholder approval is a growing hurdle in deals, complicated by activist investors and arbitrageurs.
- Strategic deal structuring can sometimes avoid the need for shareholder votes and related risks.
Activism's Growing Governance Role
- Activism has evolved into a major factor, with large activist funds playing a critical governance role.
- Activism often prompts corporations to self-assess and act as their own activists, improving governance.