n Without Prejudice - Triggers for withdrawing from M&A deals : company law

Abstract

Press reports indicate that mergers and acquisition (M&A) activity in South Africa declined sharply during 2009 from its 2008 levels. This is unsurprising given the downturn in the capital, credit and securities markets around the world: acquirers are no longer able to source the funding for potential transactions on commercially viable terms; shares are a less attractive acquisition currency; and cash reserves are more valuable than ever before.