Antitrust as Political Resistance to Consolidation

The video discusses the complexities and challenges of mergers and acquisitions (M&A) in the context of increasing antitrust scrutiny globally. It highlights the rise in the number of antitrust regimes and the difficulties faced by companies in navigating these regulations. The discussion also covers the current trends in the M&A market, noting a decrease in activity compared to previous years, particularly in the energy sector. The video concludes by examining the drivers of M&A, such as the search for growth and the impact of capital markets.

What has been a significant change in antitrust regimes globally over the past decade?

• A decrease in the number of regimes

• An increase from a dozen to 120 regimes

• A focus on only domestic deals

• A shift towards more lenient regulations

In recent times, what has become more challenging for companies regarding M&A deals?

• Understanding international markets

• Proving that deals are not anti-competitive

• Finding potential buyers

• Securing financing for deals

How has the burden of proof shifted in M&A deal evaluations?

• From international bodies to local authorities

• From the government to companies

• From financial institutions to companies

• From companies to the government

What is noted about the M&A activity in the energy sector?

• There is surprisingly little activity

• It is experiencing a boom

• It is unaffected by capital market conditions

• It is the most active sector

What has impacted M&A activity across various sectors?

• High interest rates

• Government subsidies

• Stable capital markets and liquidity

• Lack of investor interest