Latest news with #Acquisitions
Forbes
5 hours ago
- Business
- Forbes
New State Merger Review Laws Could Harm U.S. Economy
U.S. states are ramping up their review of proposed mergers and acquisitions (M&A). Both Washington and Colorado have enacted new pre-merger notification statutes that will take effect this summer, and other states have introduced or are considering similar legislation. These changes could impose major new costs on potential merging parties and harm the U.S. economy. In addition, the Trump Administration may wish to consider revisiting costly changes imposed in a revised 2024 federal pre-merger rule. M&A Benefits As I previously discussed in Forbes, M&A activity generates major economic benefits by reallocating capital to higher-valued uses and thus yielding more efficient production and innovation. Specifically: M&A Costs and Federal Enforcement Oversight Trends As I previously explained, M&A activity may also, however, impose costs when it reduces competition in the marketplace. The Clayton Antitrust Act bars M&A transactions that may substantially lessen competition. A longstanding bipartisan federal enforcement consensus that targeted only those mergers that threaten to harm consumer welfare (by raising prices and reducing output, quality, or innovation) was overturned by the Biden Administration, which introduced a populist 'big is bad' skepticism of merger activity. These are 'early days' in the second Trump Administration. Nevertheless, new Department of Justice and Federal Trade Commission antitrust enforcers appear to be signaling that they will focus on improvements in merger review process, rather than a return to the far less interventionist pre-Biden approach to merger analysis. Indeed, the Trump DOJ and FTC have kept in place 2023 Biden merger analysis guidelines that greatly relaxed prior guidelines' standard for deeming a merger problematic. The new guidelines disincentivized mergers by featuring novel and unproven theories of competitive harm. The new Trump enforcers also have retained an October 2024 revised pre-merger rule. Compliance with the revised rule 'require[s] New State Merger Legislative Requirements Will Likely Prove Harmful At its best, alignment of state and federal antitrust enforcement efforts is an example of beneficial 'cooperative federalism.' States can enforce federal merger law on behalf of their residents. They also may challenge mergers under state antitrust laws. State statutes may allow a local focus on small state-specific mergers not investigated by federal enforcers. State and federal merger enforcement may also, however, work at cross-purposes. State merger cases may generate highly costly, wasteful duplication of federal efforts, and may occasionally be in tension with federal antitrust policy. The 2024 Model Antitrust Pre-Merger Notification Act served as the basis for an April 2025 pre-merger notification law in Washington, with many other states expected to follow suit. The Model Act gives states access to federal pre-merger filings, subject to the same confidentiality requirements that apply under federal law. Widespread adoption of the Model Act will increase filing cost burdens on merging parties and will subject them to a greater risk of having sensitive non-public business information leak out from a variety of new sources. Even greater concerns stem from the fact that California and New York are considering pre-merger legislation that sweeps more broadly than the Model Act. The new pre-merger burdens would impose major new costs on merging parties. What's more, the California proposal would also establish a far lower substantive standard for striking down a merger ('an appreciable risk of materially lessening competition') than that found in federal law ('may be substantially to lessen competition'). This change raises the legal risk associated with merger proposals. It could seriously disincentivize many beneficial mergers for no good reason. Policy Implications and Next Steps Taken as a whole, recent state merger-related initiatives threaten significant U.S. economic harm. The U.S. has the strongest most innovative capital markets, which are key to driving economic growth. M&A plays a central role in the success of those markets. It keeps rivals on their toes and yields more vibrant competition. The weakening of M&A based on new state-created burdens and legal risks would tend to diminish economic growth and lower American competitive vitality, at least to a degree. This is that last thing we should want to do in a highly competitive global economy. The Trump Administration hopefully will take note. The President might, for example, direct the DOJ and the FTC to make 'competition advocacy' filings with the states highlighting the economic harm that specific merger-related legislative proposals would likely impose. The two agencies have specialized economists and lawyers with a long and respected history of making advocacy filings, directed at both state and federal government entities. The two agencies also use the 'bully pulpit' to emphasize the importance of continued close cooperation between federal and state antitrust enforcers. Federal and state enforcers already cooperate and make joint filings in a variety of cases. New state merger requirements could reduce the effectiveness of such cooperation. Finally, the FTC and the DOJ may wish to take a second look at the revised 2024 federal pre-merger rule to determine whether some of the costly new requirements it placed on filers could be eliminated. Issuing a new less costly rule could be good for American M&A. It would also be fully in tune with President Trump's April 2025 Executive Order on Reducing Anticompetitive Regulatory Barriers. Hopefully state and federal officials will take note and act to enhance the economic benefits of merger review.
National Post
16-05-2025
- Business
- National Post
AR Mergers Inc. Launches to Serve Canada's Mid-Market Business Owners with Empathy-Driven M&A Advisory
Article content MISSISSAUGA, Ontario — AR Mergers Inc., a boutique M&A advisory firm based in Mississauga, Ontario, has been founded to serve a market often underserved by larger firms: privately held Canadian businesses valued between $3 million and $30 million. The firm brings a unique, empathy-driven approach to mergers and acquisitions, placing business owners—and their legacy—at the center of every engagement. Article content Article content AR Mergers builds on the foundation of experience established by its sister company, AR Business Brokers, a trusted leader in Main Street business sales for over 13 years. With hundreds of small business transactions completed, AR Business Brokers has earned national recognition for its results-driven execution and client-centered approach. Article content AR Mergers, however, was designed as a distinct, boutique advisory firm—focused exclusively on the lower-middle market. With its own dedicated team, methodology, and mandate, AR Mergers brings strategic focus and high-touch execution to transactions that demand a more sophisticated process and buyer pool. Article content Founded by a team of experienced advisors and entrepreneurs, AR Mergers was created to bring industry experience and trusted guidance to business owners navigating complex transitions. Article content 'We started AR Mergers to give everyday business owners access to the kind of support typically reserved for larger companies,' said Pratik Mehta, Founding Partner at AR Mergers. 'This segment of the market deserves meaningful representation, honest advice, and solutions that reflect the value they've built.' Article content AR Mergers provides a confidential, structured process to support owner-led companies preparing to sell, transition, or plan for succession. Acting as a dedicated intermediary, the firm bridges the gap between business owners and sophisticated buyers—such as private equity firms or strategic acquirers—while ensuring that each client's goals, values, and legacy remain at the forefront. Article content AR Mergers operates with a five-phase methodology—from goal alignment to closing—ensuring a competitive and well-managed process. The team works closely with trusted legal and financial advisors to maintain deal momentum and mitigate risk. Article content Free, confidential consultations are available. Article content About AR Mergers AR Mergers (ARM) is a boutique M&A advisory, that exists to create the most effective path for owners of Canadian Businesses to sell their company. We guide transactions with empathy, clarity and expert execution. Each step we take is deliberate and results-driven. Article content Article content Article content Article content Article content Article content
Zawya
20-04-2025
- Business
- Zawya
QDB unveils mergers and acquisitions program to promote competitiveness and growth
Doha, Qatar: As part of its ongoing efforts to support the private sector and strengthen the sustainability of Qatari businesses, Qatar Development Bank (QDB) has announced the launch of its Mergers and Acquisitions (M&A) program. The strategic initiative offers integrated solutions to companies seeking growth, access to new opportunities, strategic partnerships, or structured and efficient exit strategies. The program facilitates both mergers—combining two or more companies to create stronger, more competitive entities—and acquisitions, where one company acquires another in whole or in part. It delivers a suite of specialized services designed to enhance competitiveness and promote a more sustainable business environment across various industries in Qatar. The M&A Program is one of QDB's innovative offerings tailored to support SMEs, private enterprises, and Qatari factories at different stages of their business lifecycle. It provides a full range of advisory services backed by a clear methodology, enabling companies to identify and pursue the most suitable merger or acquisition opportunities. Through the program, QDB covers up to 70% of advisory service costs via a dedicated M&A Minha (grant). Companies can list their opportunities on the newly developed M&A portal—an interactive platform that connects businesses and investors with certified experts and advisors. This allows companies to unlock new opportunities for growth, expansion, and sector-specific matchmaking. QDB CEO Mr. Abdulrahman bin Hesham Al-Sowaidi emphasized that the program addresses the evolving needs of the Qatari market and aligns with the bank's strategic focus on innovative solutions to boost competitiveness and the growth of Qatari companies. 'The program aims to diversify funding sources and attract both individual and corporate investors seeking partial or full acquisitions of businesses looking to offer their shares. It also supports companies in achieving their strategic goals—whether through expansion, improved operational efficiency, or successful exits. At Qatar Development Bank, we are committed to providing comprehensive, integrated solutions that support businesses at every stage of their development.' The M&A journey is structured into three main steps. The initial evaluation step involves assessing the company's financial and operational data to determine its market value, business goals, and strategic direction. Next is Company Listing on the M&A Portal, where the company is showcased on the portal to connect with potential investors or buyers. Finally, Negotiating and Completing M&A, which includes entering negotiations, finalizing the merger or acquisition, and agreeing on the deal terms. Mergers and Acquisitions Portal Benefits Through the M&A program and its dedicated portal, QDB offers an end-to-end support ecosystem—from initial planning to deal completion—along with accurate business valuations. The portal enables companies to create professional, secure listings with detailed profiles, while maintaining high standards of privacy and confidentiality. Expert guidance is also available to help determine accurate market valuations. For investors, the portal provides a streamlined path to new acquisition opportunities. It offers access to pre-vetted companies, allows comparison of multiple profiles, speeding up the matching process. How to Register on the Portal Companies can easily register by creating an account on the portal and submitting a request for advisory services. On the other hand, investors can register to browse opportunities, compare company profiles, and engage directly with company owners. For more information, please visit Qatar Development Bank's website and explore the M&A program via About Qatar Development Bank Founded in 1997 under Emiri Decree No. 14, Qatar Development Bank (QDB), formerly known as Qatar Industrial Development Bank, is a development institution that primarily focuses on boosting industrial development and supporting the economic diversification of the private sector in Qatar. Over the past two decades, QDB has played a pivotal role in becoming the primary support arm for the private sector in Qatar, acting as a strong catalyst for social and economic development through three main pillars: access to finance, access to markets, and access to capacity building. QDB offers a comprehensive support system, including various financing plans, advisory services, legal advisory, mentoring, and capacity-building platforms. This integrated approach has helped QDB become a vital partner in the growth journey of SMEs, from concept to export, enabling them to compete both nationally and internationally, contributing to Qatar's economic vision for 2030. Currently, QDB and its affiliated institutions are building on Qatar's rich legacy of social and economic achievements through bold future-focused initiatives, with an emphasis on digital transformation in SMEs and the business environment, making it easier for entrepreneurs and SMEs to enter the new economy, embrace renewed opportunities, and gradually transform QDB into a digital future-focused institution and beacon for financial and developmental institutions across the region and the world. For more information, visit QDB website.
