Torys Trends for 2007

Torys LLP just released their own Top 10 list; trends for the M&A world in 2007:

1. Going-private transactions will increase
2. Sarbanes-Oxley will spur M&A activity and result in the increased importance of non-U.S. stock exchanges
3. Income Trust M&A will grow
4. Defensive tactics will proliferate and strengthen
5. Private equity club transactions will continue to increase
6. Shareholder activism will strengthen
7. Use of go-shop clauses will increase
8. Independence of financial advisers (ie, investment banks advising Special Committees) will be scrutinized
9. Telecom/media businesses will consolidate
10. India will expand activity

Point #1 is a given, in light of the $390 billion raised globally in 2006 by private equity firms. #2 might be a reach, as the Treasury Secretary appears to be dismantling the tougher parts of SOX. #5 We’ll see what the DOJ has to say about that; GE’s sale f the plastics division is the first volley of 2007 in this vein. #6 After Tweedy’s success with Lord Crossharbour, why not? #8 Is sooooooo overdue! #9 Is there anything large left to buy?

MRM