Global trends in private M&A 2020

We have recently produced a client presentation on global trends in private M&A. Our findings draw on an in-depth analysis of more than 1,250 private M&A deals that A&O has advised on globally over the last eight years, looking at deal dynamics, execution risks and deal terms. This has given us exceptional insight into global and regional trends in market practice.

Global trends in private MA graphic

Key themes for 2019 include:

  • Megadeals and strategic domestic transactions dominate
  • Auction activity and competition starting to cool
  • Private equity waiting for price expectations to align
  • Regulatory landscape and economic uncertainty influence deal terms
  • W&I insurance gains traction outside of private equity exits
  • Shift in dynamics as buyers reclaim some lost ground
  • Marked differences in developed, emerging and frontier market M&A

Please speak to your usual Allen & Overy contact if you would like to schedule a briefing on these trends.


A&O creates new client group in management change

Allen & Overy (A&O) has overhauled its management teams, creating its first executive committee and client group.

The changes follow a consultation among the partnership, aimed at creating a more structured approach to management and developing client relationships.

Responding to concerns, A&O has developed a client group that will be structured around industry sectors. These have not yet been finalised by the firm, but are expected to include focuses on energy, financial institutions and life sciences.

Members of the client group have also not yet been confirmed, although it is expected to include a number of senior partners who hold some of the firm’s key client relationships.

The firm is understood to be pushing for a more sector-led approach in the market, but will continue to organise itself through its practices, such as corporate, finance and litigation.

An executive committee has also been established, responsible for developing and implementing the firm’s overall strategy. It will meet for the first time in June and will be co-chaired by senior partner Wim Dejonghe and managing partner Andrew Ballheimer.

There are an additional eight members on A&O’s new executive committee, including banking co-head Philip Bowden, new US senior partner Tim House and co-head of international capital markets Simon Hill.

Globally, members include Belgian-based corporate co-head Dirk Meeus, United Arab Emirates partner Ian Ingram-Johnson, German partner Astrid Krueger and Hong Kong managing partner Vicki Liu. Barbara Stettner completes the line-up and leads A&O’s Washington DC office.

A&O previously had just a board in charge of strategy, but the board will now be in charge of reviewing and approving the direction put forward by the executive committee.

A&O’s board consists of eight partners, with just Ballheimer and Dejonghe sitting on both the board and executive committee.

The changes follow a number of other shake-ups in the firm following the senior partner and managing partner elections last year.