Acquisition Financing: the Year Behind and the Year Ahead

The Harvard Law School Forum on Corporate Governance and Financial Regulation 2017-01-19

Posted by Eric M. Rosof, Wachtell, Lipton, Rosen & Katz, on Tuesday, January 17, 2017
Editor's Note: Eric M. Rosof is a partner at Wachtell, Lipton, Rosen & Katz. This post is based on a Wachtell Lipton publication by Mr. Rosof, Joshua A. Feltman, Gregory E. Pessin, Michael S. Benn, and John R. Sobolewski.

If 2008 through 2010 were years of tumult and recession in U.S. financing markets, and 2011 through 2015 years of recovery and growth, marked by ever-lower yields and record-setting financing activity even in the face of new compliance regimes, 2016 felt like a tipping point. After hitting record lows in the first half of the year, interest rates at last experienced a sustained rise, and the U.S. election results opened the door to major regulatory and legislative changes, including the potential roll-back of portions of Dodd-Frank and the potential roll-out of consensus-fueled fiscal stimulus.

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