City & Financial’s annual M&A Practitioners’ Summit, which is the pre-eminent event for M&A specialists, explores the latest developments and trends in the M&A market. Historically, it has had a particular focus on regulatory changes to the City Code on Takeovers and Mergers. However, this year’s programme has been comprehensively revised and expanded to take account of wider market forces. In particular, the introduction of the National Security and Investment Bill has wide-ranging repercussions for takeover activity with a foreign and/or national security element and will have major implications for the foreign direct investment regime.

The event will take place against the backdrop of the UK’s recent withdrawal from the EU. This will necessitate significant changes to the City Code to ensure a level playing field where there is a referral to both the Competition and Markets Authority and competition authorities across the EU and internationally. We are delighted that Simon Lindsay, Director General of the Takeover Panel, has confirmed his participation at the event. The programme will also look at the key factors influencing market practice including current economic conditions; climate change transition as a driver of M&A activity; shareholder engagement and activism; and future trends.

Issues to be covered include: 

• What will be the impact of the National Security and Investment Bill (NSI) on takeovers with foreign national security implications?
• How will the new screening regime impact the bid timetable and tactics?
• What are the proposed changes to the City Code to reflect the new merger regime following the UK’s withdrawal from the EU?
• How are economic conditions impacting the market in distressed sales?
• How is climate change transition driving M&A activity?
• What is the impact of increased shareholder engagement and activism on takeover activity?
• Where is the M&A market heading in the future?