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COVER STORY

Inside the influence of institutional money

As institutional investors have become more prominent, it is unsurprising that they have become more closely involved in corporate governance, board decision making and long-term business strategy.

FEATURES

Political risks in M&A: evaluation and mitigation

Alongside legal, financial and operational reviews, acquirers are increasingly analysing election risks, sanctions exposure and potential policy shifts before committing capital.

Risks arising: D&O insurance evolves

D&O insurance has become an essential component of a company’s governance and risk management framework. Policies typically cover legal defence costs, settlements and compensation in a wide range of scenarios.

AI-driven compliance in a complex risk world

From transaction monitoring and risk assessment to policy management and beyond, organisations are using AI to improve efficiency, detect misconduct and strengthen oversight across sectors, jurisdictions and industries.

The new face of AML leadership

While the role was once largely focused on compliance oversight, today’s CAMLOs are expected to lead enterprise-wide financial crime frameworks, oversee technology transformation, and engage directly with boards and regulators.

Once in a generation: the A-EU FTA

While the A-EU FTA promotes transparency and the use of international standards to facilitate market access, differing technical regulations and standards may still create trade barriers and increase compliance costs.

ROUNDTABLE

Shareholder activism and engagement

As its influence continues to grow rather than decline, shareholder activism is becoming increasingly ubiquitous, multidimensional and integrated into mainstream corporate governance. FW moderates a discussion between Tyler Herka at Alliance Advisors, Stephen I. Glover at Gibson, Dunn & Crutcher LLP, Bob Marese at MacKenzie Partners, Inc., Carmen Lu at Paul, Weiss, Rifkind, Wharton & Garrison LLP, and Elina Tetelbaum at Wachtell, Lipton, Rosen & Katz.

SPECIAL REPORT

Human capital & employment

Q&A: Pay transparency and pay equity

Pay transparency has moved to the centre of the modern workplace because it sits at the intersection of talent, culture and regulation. FW discusses pay transparency and pay equity with Etelvina Martinez, Michael Vogele, Reid Pearson and Peter Casey at Alliance Advisors.

The responsibility of investors for management

Wharton School There is little that distinguishes most organisations from their peers other than the people in them and the way they are managed, so people issues are fundamental.

Moving AI from hype and hope to faster progress: a call for hybrid work

The RBL Group While improvements in individual performance and specific organisation tasks or work processes exist, AI promises on impact for the overall economy and macro productivity are not yet fully realised. The findings are disappointing, if not surprising.

Why Argentina’s labour reform matters beyond employment law

Marval, O’Farrell & Mairal Reducing bureaucratic friction, improving traceability and making employment documentation more transparent all contribute to a business environment in which compliance can be approached more confidently and at lower administrative cost.

BRIEFINGroom

Energy transition and infrastructure M&A

Platform strategies create repeatable acquisition and financing frameworks that reach beyond generation into storage and other enabling infrastructure. FW discusses the energy transition and infrastructure M&A with Jonathan See at McCarthy Tétrault LLP, Frank Aquila at Sullivan & Cromwell and Thyl Hassler at White & Case LLP.

M&A in the professional services sector

Systems, governance, reporting lines and cost synergies all matter, but professional services firms are people businesses and value can be lost quickly if client relationships, professional identity or motivation are disrupted. FW discusses M&A in the professional services sector with Victoria Ritchie at HSBC UK and Andrew Millar at Shoosmiths LLP.

Special committee investigations in bankruptcy

The most effective special committee investigations are ones that take context into account and involve all relevant constituencies. FW discusses special committee investigations in bankruptcy with Richard A. Collura at Ankura, Elliot Moskowitz at Davis Polk & Wardwell LLP and Daniel Saval at Kobre & Kim LLP.

DEALfront

mergers & acquisitions

AbbVie agrees $10.9bn Apogee Therapeutics deal

In one of the largest biotechnology transactions announced this year, US pharmaceutical group AbbVie has agreed to acquire Apogee Therapeutics in a deal valued at approximately $10.9bn.

Salesforce to acquire Fin for $3.6bn

US cloud software company Salesforce has agreed to acquire artificial intelligence customer service platform Fin for approximately $3.6bn, deepening its focus on automation and AI agents.

private equity & venture capital

EQT strikes $14.5bn Intertek deal

Following months of negotiations, British product testing and certification company Intertek has agreed to be acquired by Swedish private equity group EQT in a deal valued at approximately £10.9bn, including debt.

Crowe agrees near-$3bn majority stake sale to KKR

Global investment firm KKR has agreed to acquire a majority stake in public accounting and consulting firm Crowe LLP in a transaction valued at nearly $3bn, becoming the firm’s first institutional capital partner.

bankruptcy & corporate restructuring

Inotiv files for bankruptcy protection

In a bid to reduce its debt by approximately $326m, contract research organisation Inotiv has filed for Chapter 11 bankruptcy protection to facilitate a restructuring support agreement with its pre-petition first lien lenders and an ad hoc group of noteholders.

Exertis UK enters administration

In late May, following months of turmoil and restructuring, technology distributor Exertis UK entered administration.

SPOTlight

Winning shareholder support through year-round activism preparedness

Alliance Advisors Understanding why year-round engagement has become an activism-preparedness imperative requires looking at both the structural forces pushing companies toward continuous dialogue and the strategic incentives pulling them there.

Mis-selling claims in the DIFC: product innovation and regulatory expectations

Norton Rose Fulbright Periods of significant market stress are frequently followed by an increase in mis-selling allegations, as clients that have suffered losses scrutinise the advice and disclosures they received at the point of sale.

From insight to execution: how AI is reshaping corporate treasury decision making

Standard Chartered Rather than replacing treasury professionals, today’s most practical AI applications improve visibility, forecasting, risk monitoring and workflow efficiency, enabling treasury teams to become more proactive and capital efficient while preserving appropriate human oversight.

Discovery disrupted: will generative AI prompt more civil lawsuits to go to trial?

Gail Gottehrer Consulting LLC AI has already had a dramatic impact on the practice of law and may have the potential to transform discovery to the point that it ceases to be a driving factor in the decision whether to try a case or settle it.

Special litigation committees: key recent decisions

Steptoe LLP SLCs offer a way for companies and their boards of directors to avoid costly, distracting and discovery-heavy shareholder litigation while at the same time investigating the merits of allegations against directors in a controlled manner.

CONTRIBUTORS

Alliance Advisors

Ankura

Davis Polk & Wardwell LLP

Gail Gottehrer Consulting LLC

Gibson, Dunn & Crutcher LLP

HSBC UK

Kobre & Kim LLP

MacKenzie Partners, Inc.

Marval, O’Farrell & Mairal

McCarthy Tétrault LLP

Norton Rose Fulbright

Paul, Weiss, Rifkind, Wharton & Garrison LLP

Shoosmiths LLP

Standard Chartered

Steptoe LLP

Sullivan & Cromwell

The RBL Group

Wachtell, Lipton, Rosen & Katz

Wharton School

White & Case LLP