Rajah & Tann Singapore contributed to the Trends & Developments section of the Singapore chapter of Global Practice Guide: Corporate M&A 2024 published by Chambers and Partners.
Global M&A activity in 2023 saw a 6% decrease in volume and a significant 25% decrease in value compared to the previous year. In the Asia-Pacific, deal values plummeted by 26% compared to 2022, while deal volumes experienced a marginal 1% decrease. Despite macroeconomic challenges, regulatory shifts, and geopolitical instability, business leaders remain optimistic, intensifying investments in research and development (R&D) and capital expenditures. In this chapter, Partners Sandy Foo (Head), Tracy Ang (Deputy Head), Terence Quek (Deputy Head), Favian Tan, Loh Chun Kiat and Goh Jun Yi from the Mergers & Acquisitions Practice delve into the following key trends and legal developments shaping the future of M&A transactions in Singapore:
- Special purpose acquisition companies (SPAC) activity;
- Antitrust and competition;
- Shareholder activism;
- S-REIT market;
- Revised criteria for computing 90% threshold for compulsory acquisition under the Companies Act;
- Significant Investments Review Act which came into effect on 28 March 2024;
- Proposed enhancements to Singapore Exchange (SGX) Rules on corporate restructuring; and
- ESG and sustainability.
The full Trends & Developments section of the Singapore chapter can be read here.
