With first-half M&A activity falling below even the most pessimistic of forecasts – figures from Thomson Financial showed a 5.7% decrease in overall global value compared to H1 2002 – the recent surge in public company takeovers is providing a glimmer of sunshine for leading City law firms.
Cash-rich private investors appear convinced that share prices cannot fall much lower and believe there is value to be had in certain cash-generative sectors, particularly those with significantly undervalued property assets.
