I don't know. 'They know, boss.' Maybe, Voice. Maybe.
Michael -
There's a lot of dry powder in the US M&A market, with distressed sellers and opportunistic buyers looking to make the most of disrupted business conditions. The second half of the year should write quite a story.
Oh, who is that?! 'It's them, boss - !!!' Yes, it must be.
As you follow developments in the deal economy, especially across the middle markets, we hope you'll consider calling on members of the M&A group at law firm Bryan Cave Leighton Paisner.
Er ... do I, er ... follow developments in the deal economy, Voice? 'Ha, ha, ha!' Uh. Never mind. We're in this PR email now. Up to our necks. 'I don't have a neck!' Whatever.
BCLP has market-leading position across a number of segments, advising public companies and closely held businesses, VC firms, private equity investors and their portfolio companies, as well as financial institutions. Particular sector strengths include agribusiness/food, real estate, health care, industrials and financial services. The firm also counsels boards on corporate governance issues.
Okay, okay. Fair enough.
"A lot of transactions underway pre-The Thing didn't completely stop - they were held up like an extended flight delay. But we do expect many of those deals to get off the runway as the summer continues."
Well, well ... 'Who's that, boss?! Who's speaking?!' It's another voice, Voice. You've got competition.
'Oh, who is it?! Tell me!'
Calm down. It's only one of them ...
M&A partner Stephanie Hosler, global head of the firm's corporate and finance transactions group.
'Oh. I suppose ...'
She's not after your job, silly. She's already got a good job.
"While timelines will be longer because of tighter due diligence and uncertainly in financings, we do expect that transactions will picking up and momentum continue to build though the next two quarters," ... ... ...
'And who ... ?'
She adds.
'Thank God, Mikey!'
And this must be John ...
Among factors still impacting M&A activity, according to Ms. Hosler, are:
A surge in busted deals after The Thing halted economic activity, resulting in a wave of lawsuits in which buyers sought to cancel transactions and sellers pushed to force them to close. Ms. Hosler notes the misalignment also resulted in a spike in short arbitrage, whereby hedge funds bet against target companies in announced M&A deals.
That's one of the factors, yes. 'What about the other factors?' I’m not doing the whole email. But I'll finish with this -
Ms. Hosler is one of the few women to head an M&A department at a major law firm - she is also of Hispanic heritage, the daughter of Peruvian parents.
'Was that John again?' I hope so. I really hope so.
ENDS
[Hello!]
'Who was that?!'
I have no idea.
ENDS
[Goodbye!]
'It's freaking me out!'
Me too.
ENDS ENDS ENDS
