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COVER STORY

Trust and cohesion: managing change fatigue

Thriving through change requires more than strategy; it demands a culture where people feel safe, supported and heard.

FEATURES

Reshaping deals: ESG across private equity

As ESG continues to evolve, private equity is uniquely placed to lead the charge. By aligning purpose with performance, the industry can unlock long-term value while driving meaningful, measurable change.

Shifting legal landscape as digital assets mature

As digital assets – including cryptocurrencies, stablecoins, tokenised securities and central bank digital currencies – have matured, regulators around the world have begun to shift from reactive and fragmented approaches to more structured and comprehensive legal frameworks.

Unpacking EPR: rethinking product lifecycles

With packaging now at the forefront of legislative action, extended producer responsibility is rapidly reshaping the regulatory and business landscape in the US, the UK, the EU, and beyond.

Pivotal position: the evolving CHRO

As organisations navigate disruption, the chief human resources officer’s ability to align people, technology and purpose will be essential to building resilient, forward-looking enterprises.

Sanctions in the age of AI

The effectiveness of AI-related sanctions will depend on the development of new digital trade control frameworks, as well as the ability of companies to implement robust mitigation strategies to reduce the risk of sanctions breaches.

ROUNDTABLE

Shareholder activism and engagement

Looking ahead to 2026, boards must remain especially vigilant, recognising that even well-intentioned decisions may come under activist scrutiny. FW moderates a discussion between Adam Riches at Alliance Advisors, Paul Scrivano at Davis Polk & Wardwell, Pat Tucker at FTI Consulting, Inc, Stephen I. Glover at Gibson, Dunn & Crutcher LLP, and Elina Tetelbaum at Wachtell, Lipton, Rosen & Katz.

SPECIAL REPORT

Digital transformation

Q&A: AI and digital transformation in healthcare & life sciences

It is easy to talk about artificial intelligence as if it is one tool, but that really misses the point. There are very different kinds of AI at play in healthcare and life sciences, and each one brings something unique to the table. FW discusses artificial intelligence and digital transformation in healthcare & life sciences with Craig Wylie, Ben Enejo, Ben van der Chaff and Robert Albarano at Arthur D. Little, LLC.

Reimagining work in an AI-enabled world: adaptability as a strategic imperative

ServiceNow AI is not just making existing work faster, it is enabling entirely new kinds of work. The post-work era does not signal the end of employment; it marks a new beginning – one where human ingenuity is not diminished by machines, but elevated by them.

Humans and machines in the enterprise – work but not as we know it

KYP.ai AI takes us beyond automation to human augmentation and that is not all. AI brings us more superpowers that are less understood.

Key managerial requirements for AI-based business transformations

University of Melbourne Successfully implementing AI-based projects in commercial applications requires not only the technical side of the AI to be done well, but also invoking a broader set of organisational capabilities to ensure that success results in business change rather than merely technology adoption.

Digital transformation as a strategic driver of online reputation

Blue Ocean Global Technology Digital transformation is now a reputation strategy. The digital world is where organisations are evaluated and judged.

EU financial firms: digital and legal challenges

Neva Consulting Digital transformation is no longer optional; it is a strategic imperative. However, the legal and regulatory challenges it poses are equally transformative.

AI in business and law: balancing risk with progress

Trowers & Hamlins LLP AI is no longer a future consideration; it is a present reality. Its use is already transforming how work is carried out in the legal sector and beyond.

DEALfront

mergers & acquisitions

CoreWeave to acquire Core Scientific in $9bn deal

In a strategic move to secure the energy and data centre capacity required to meet soaring demand, AI cloud computing start-up CoreWeave has confirmed it will acquire data centre infrastructure provider Core Scientific in an all-stock transaction valued at $9bn.

Capgemini to acquire WNS for $3.3bn

Consulting and technology services firm Capgemini has announced that it has agreed to acquire IT outsourcing company WNS Holdings Ltd in a deal valued at $3.3bn.

private equity & venture capital

Spectris sold for $6.5bn

Spectris PLC has agreed to be acquired by private equity firm Kohlberg Kravis Roberts & Co for $5.2bn, following a successful bid that surpassed a rival offer from US-based Advent International LP.

Olo to be acquired by Thoma Bravo for $2bn

In a transaction aimed at accelerating growth and enhancing offerings for restaurant brands globally, restaurant technology provider Olo is to be acquired by private equity and growth capital firm Thoma Bravo in an all-cash deal valued at approximately $2bn.

bankruptcy & corporate restructuring

Del Monte Foods files for Chapter 11

Following a costly post-pandemic reset and weakening consumer demand, US-based fruit and vegetable company Del Monte Foods has filed for Chapter 11 bankruptcy protection. The move is intended to facilitate a value-maximising sale process and a broader strategic restructuring of its balance sheet.

Merit Street Media files for Chapter 11

Less than two years after its launch, Merit Street Media, the multi-platform network owned by former daytime talk show host Dr Phil McGraw, has filed for Chapter 11 bankruptcy protection while suing Trinity Broadcasting Network – a global Christian media conglomerate operating 30 networks worldwide – for breach of contract.

SPOTlight

Australia’s new merger regime

Johnson Winter Slattery The newly legislated merger regime is mandatory in that parties must notify the ACCC before completing any acquisition that meets the designated thresholds. It will also be suspensory, with implementation of notifiable mergers prohibited until the ACCC grants approval.

AI in financial services: transforming investment, risk and customer experience

Norton Rose Fulbright AI is reshaping the financial services landscape, touching every aspect of FS business, enhancing efficiency and profitability. As financial institutions continue to invest in and develop AI capabilities, the technology’s impact on efficiency, customer service and profitability will only grow.

Executive pay: lessons from 2025 and board priorities for the year ahead

Alliance Advisors With the 2025 North American proxy season now officially closed, emerging trends in executive compensation are offering valuable insights and shaping important considerations for boards going forward. While investors continue to show broad support for executive pay programmes, boards should be cautious not to become complacent about their pay programme.

Why companies need an AI policy and what it should include

SheppardMullin For in-house counsel and board members, understanding both the ‘why’ and the ‘how’ of an AI policy means the difference between maximising value and exposing the organisation to existential risk.

US legal developments targeting ESG: implications for the financial industry

Davis Polk There has been a perceptible retreat from ESG commitments within the financial sector, a shift that many observers attribute, at least in part, to recent legal and political developments.

Enhancing corporate transparency and combatting economic crime in the UK

EY LLP With agentic AI, a workflow to test payments could be created whereby an end-to-end review of the purchase-to-pay process for each payment was performed. The prospect of using AI in this way has a number of benefits.

Minority shareholdings and cartels: a new arena of competition law risk

Gowling WLG Investors and their advisers should consider possible competition law issues at an early stage, and proactively address these within the transaction planning.

When great employees leave: rethinking retention for the modern workforce

The Conference Board Retention is not merely about avoiding cost. It is about protecting purpose, continuity and human capital.

Reshaping Argentina’s oil and gas landscape

Marval O’Farrell Mairal Argentina’s oil and gas sector is gaining momentum. Some players are exiting the market, others are entering, and some are adapting their strategies.

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CONTRIBUTORS

Alliance Advisors

Arthur D. Little, LLC

Blue Ocean Global Technology

Davis Polk

EY LLP

FTI Consulting, Inc

Gibson, Dunn & Crutcher LLP

Gowling WLG

Johnson Winter Slattery

KYP.ai

Marval O’Farrell Mairal

Neva Consulting

Norton Rose Fulbright

ServiceNow

SheppardMullin

The Conference Board

Trowers & Hamlins LLP

University of Melbourne

Wachtell, Lipton, Rosen & Katz