Looking beyond the pandemic – ITR's M&A Special Focus launched

International Tax Review is part of Legal Benchmarking Limited, 1-2 Paris Garden, London, SE1 8ND

Copyright © Legal Benchmarking Limited and its affiliated companies 2025

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Looking beyond the pandemic – ITR's M&A Special Focus launched

As the changes occur, insurance would provide a ‘worst case scenario’ cover.

Produced in collaboration with tax experts from across the globe, ITR is delighted to launch the 2020 edition of our Mergers and Acquisitions guide.

A fourth quarter surge in merger and acquisition (M&A) activity during 2019 kept global markets bullish. The energy, healthcare and technology sectors recorded a number of iconic deals, while private equity players actively embraced larger, broader opportunities. Cue the COVID-19 pandemic.

In the second quarter of 2020, global M&A amounted to $485.3 billion, having fallen 55% from a year ago. According to data from Refinitiv, this marked the lowest total since the third quarter of 2009, while the number of deals completed were the lowest quarterly total since 2004.



In the coming year, a rise in distressed M&A activity is expected, as financiers and firms react to a spike in bankruptcies and a resurgence in restructuring mandates. On the other side, companies will tread cautiously with their investments as they renovate their business models to reflect the ‘new normal’.



Partnering with tax advisors who are leading the action, ITR brings you an exclusive insight into some of the most significant tax-related developments from the M&A world.



The emerging trend of Chinese enterprises ‘going home’ by de-listing from foreign capital markets and re-listing in China, is the subject of KPMG’s article. The move complements recent regulatory changes and an uptick in restructuring work in the jurisdiction.



The article by Galicia Abogados discusses how representations and warranties insurance has the potential of gaining popularity in Mexico, following its rise in the US. By helping reduce negotiation processes, the insurance can pave way for more competitive and efficient cross-border transactions.



Moreover, when engaging in M&A activity in Mexico, it is important to carefully consider the available methods and their consequences, before proceeding with a transaction. SMPS Legal examine how local and international firms in the country can best position themselves within the country’s complex tax framework.



In light of the economic fallout from the pandemic, South Korea looks to streamline its commercial and tax laws to facilitate efficient restructuring. The article from Yulchon explores the tax implications of asset and share acquisitions in Korea, with an eye on the financial situation.



Meanwhile, in Switzerland, withholding tax reform is poised to increase intra-group financing activities and enable corporate groups to issue bonds without hurdles. The article from burckhardt Ltd looks at how the changes will help Switzerland strengthen its capital market and attract foreign investment.



We hope the 2020 Mergers and Acquisitions guide provides useful insight.



Prin Shasiharan

Commercial editor

ITR

Click here to see the entire M&A guide from ITR

more across site & shared bottom lb ros

More from across our site

ITR’s data has highlighted the US firm’s ambition to become America’s ‘premier’ tax player via a concerted partner recruitment strategy
Jaap Zwaan’s arrival continues a recent streak of A&M Tax investing in the region; in other news, the US and Japan struck a deal that significantly lowered tariff rates
In a world where international tax concepts rely on human activity, Leonard Wagenaar poses existential questions about the future of such ideas when AI is ever-present
France v Axa provides a practical illustration of how the burden of proof is applied in TP matters under French law, ITR also heard
In an exclusive interview with ITR, Ian Gary calls for a central public CbCR database and bemoans the US’s lack of involvement in international tax transparency
Reckitt Benckiser is to divest its Essential Home business, which includes more than 70 brands, to private equity firm Advent International
In the first of a new series of weekly opinion pieces, ITR Editor Tom Baker reflects on the OECD’s attempts to sanitise the US’s brazen pillar two negotiations
The threat of 50% tariffs on Brazilian goods coincides with new Brazilian legal powers to adopt retaliatory economic measures, local experts tell ITR
The country’s chancellor appears to have backtracked from previous pillar two scepticism; in other news, Donald Trump threatened Russia with 100% tariffs
In its latest G20 update, the OECD also revealed tense discussions with the US where the ‘significant threat’ of Section 899 was highlighted
Gift this article