The Deal

Macquarie Capital's global head of financial sponsors Tom Amster discusses private equity's dealmaking prospects in 2024 amid mounting pressure to return capital to LPs.

Ethan Klingsberg and Elizabeth Bieber, leading activist defense attorneys at Freshfields, dive deep into the world of activist investing. They discuss the growing influence of firms like Elliott Management and the complexities of consultant roles in corporate decisions. The duo highlights the tension between activist investors and corporate governance, particularly in insider-controlled companies. They also address board dynamics, subcommittee formations, and how companies can strategically handle activist challenges to protect their interests.

Kathy Ruhland discusses leading deal teams and being co-head of the corporate practice group at DLA Piper as well as her time in-house at General Mills. 

Perella Weinberg activism banker Jillian Alsheimer and her husband, Sebastian, an activism partner at Wilson Sonsini, discuss marriage, white squires, M&A and prospects for Bernie Sanders as a labor-backed director nominee.

Law firms will have to relate to their associates very differently in the next decade, says Orrick’s Matthew Gemello, in just one of the major changes facing Big Law. 

Akin’s Doug Rappaport and Jason Koenig discuss strategic board subcommittee disclosures, books and records requests and unintended consequences for companies with 13D rules.

Steve Epstein, the co-head of M&A and PE at Fried Frank, discusses his time as a junior banker in Frank Quattrone’s tech group at Credit Suisse, his return to the law and the challenges of running a group.  

David Dubner, a global head of M&A structuring at Goldman Sachs, discusses the growth in corporate separations amid rising interest rates. They explore notable deals, equity consideration, and valuation gaps in the M&A market. The reasons behind the increase in spin-off activity in certain sectors and the significance of spin-offs in the TMT sector are also discussed. The performance of parent companies and spinoff transactions is measured using a two-year measurement period. The expectations and trends surrounding spin-offs and corporate simplification, including the role of private credit in M&A, are explored.

Corsair Partner Jeremy Schein discusses the convergence of payments and software, unpacks a recent insurance exit and takes stock of sponsors' portco pipeline.

In the latest Drinks With The Deal podcast, Fenwick M&A partner Bomi Lee talked about her decision to focus on tech M&A and what changes when a lawyer makes partner at a firm.