Two key Nordic deal markets face new rules for corporate takeovers just as advisers are hoping for an upturn in M&A activity, Hannes Snellman’s Klaus Ilmonen and Soeren Lindstroem size up the changing market

In common with many Western European markets, takeover activity in Sweden and Finland has remained low in the past 18 months. Financial sponsors are largely out of the market as the financing required for their deal structures has not been available and as they have been focused on steering their debt-burdened portfolio companies through the financial crisis.