In both the US and Europe, interest rates already sit at
historic lows, dry-powder remains at a record high, and
positive economic fundamentals in the OECD have all aided
corporate liquidity in a more than $3 trillion global
deal-making market since 2015, according to data by
What's more, 'mega-deals' (those greater than $10 billion),
have only been getting larger, with 2018's Monsanto/Bayer,
Linde/Praxair and Time Warner/AT&T tie-ups all propelling
the transatlantic M&A market's lead over Asia.
With geopolitical risk factors including Brexit, the rise of
nationalist governments, and the US-China trade war all
potentially hampering investor confidence globally, with the
latter already slashing Chinese outbound investment by 23% in
2018, the US, of all markets, still remains the deal-market of
choice, with $1.4 trillion of deals in 2018 tied to the US.
Only Europe came close, scratching the $1 trillion mark.
While all these economic vitals invariably point to an
M&A market already favouring the US, it would seem the 2017
Tax Cuts and Jobs Act only makes the US a more enviable market
for deal making.
In this guide, International Tax Review presents
the insights of a number of tax advisors on how changes in tax
laws and regulations will impact buyer/seller sentiment,
deal-structuring, financing and investment/divestment, among
others, in 2019.
While US tax reform and its changes to cash repatriation
laws figures commonly, these are also to be observed in tandem
to the many global developments spearheaded by the OECD.
We hope you enjoy this guide.
International Tax Review