Why Big Law Will Never Solve Its Retention Problem: The Morning Minute

Why Big Law Will Never Solve Its Retention Problem: The Morning Minute | Law.com


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September 22, 2022 at 06:00 AM

6 minute read


GOT THAT PMA – M&A activity in Europe has slowed this year from its 2021 heights, but lawyers and private equity funders are nevertheless keeping a positive mental attitude, with hopes of keeping some momentum going through this year and into next, according to a new report from CMS. Merger activity in the European region held up “impressively well” in the first half of 2022 despite rising inflation and geopolitical uncertainty, according to the report, which was based on Mergermarket data. Private equity money is buoying the market, especially as the cost of borrowing increases as central banks raise interest rates to combat inflation. Overall, the number of M&A deals in Europe dropped year-over-year in the first half of 2022, and overall aggregate deal value was essentially flat. The report also noted that foreign direct investment, another driver of dealmaking in Europe, is drying up as deals come under greater regulatory scrutiny. Yet almost all those whose responses formed the basis of the report said they were currently considering M&A, with only 12% saying they are not. This stands in contrast to the findings in the last two surveys: In 2021, 33% of those polled were not considering M&A and in 2020 this figure was as high as 65%. “You would have thought that the quieter months of summer would extend into September as there are so many headwinds. But that is just not the case,” Louise Wallace, global head of the corporate/M&A group at CMS, told Law.com International’s Anne Bagamery.


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