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Clifford Chance

Clifford Chance


Coronavirus: Key Considerations, Techniques and Strategies for Executing M&A Deals in a Turbulent U.S. Market

April 13, 2020

The COVID-19 pandemic continues to upend lives around the world. Hospital capacity is being tested and projections are dire. Federal, state and local governments have imposed drastic measures such as travel restrictions, border closures and "stay-at-home" orders that have shut down or otherwise dramatically altered all forms of economic activity and virtually every other aspect of life. In response, Congress and the Federal Reserve have unleashed an avalanche of unprecedented monetary and fiscal policy legislation and other programs designed to support and stimulate the economy. Not surprisingly, first quarter M&A deal volume was down from the same period last year, and market participants anticipate continued declines. The duration and magnitude of this crisis remains unknown, and buyers and sellers that continue to pursue deals from the pre-crisis period, or that otherwise seek to remain active in U.S. M&A markets, are trying to understand some of the key considerations, techniques and strategies for executing transactions during a period of historic volatility and uncertainty.

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