News
Bell Gully contributes to international M&A publication
Bell Gully corporate partner Glenn Joblin has authored the New Zealand section of The Mergers and Acquisitions Review, a publication which looks at the level of activity globally in M&A markets over the 12 month period to mid-2008.
Glenn's chapter highlights the most significant M&A transactions that occurred in the New Zealand market over that period and summarises the New Zealand regulatory framework which governs M&A transactions. This includes the areas of employment, tax and competition laws.
Since going to print, there has been a continued slowdown in the level of M&A activity in New Zealand as a result of the global financial crisis. The "credit crunch" has created an environment in which it is significantly more difficult to obtain credit for M&A transactions. M&A activity in United States and Europe has been driven over the past few months by mergers, bankruptcy and restructuring work in the financial services sector. While the New Zealand Government has announced a retail deposit guarantee scheme, because the New Zealand bank sector has remained stable during the current financial crisis, the New Zealand market has not seen mergers of New Zealand financial institutions or government capital contributions to assist the liquidity of New Zealand banks.
Click here to read the New Zealand chapter, reproduced with permission from Law Business Research Ltd. and first published in The Mergers & Acquisitions Review, (published in September 2008 – editor Simon Robinson).
