Second Quarter 2011
We are pleased to make available to you our quarterly update on dealmaking market trends and legal developments for Q2 2011.
In our quarterly update materials, we share the key trends in:
- venture capital and emerging growth investing (investment dollars increased by 19% with software companies getting the highest share of new investment, and biotech bouncing back)
- private equity (first half 2011 deal flow back to 2008 levels)
- capital markets and initial public offerings (IPOs tripled on a year-over-year basis, with cost of capital at 10.19%)
- mergers and acquisitions (healthy increases in both multiples and median deal values)
In addition to sharing our observations on the key trends in each of these areas, we summarize significant legal developments that impacted them, including:
- Final Dodd-Frank Rules on oversight of Investment Advisers and Family Offices definition
- new SEC Rule 203(l)-1 defining "venture capital fund" for purposes of the Venture Capital Exemption
- SEC's proxy access rule struck down by D.C. Circuit Court of Appeals;
- new whistleblower rules from the SEC;
- SEC clarifies “showing of good cause” for WKSI ineligible issuer waivers
- Delaware Chancery Court finds reverse triangular mergers may trigger “assignment by operation of law” provisions
To view and print our quarterly update materials, please click below:
We hope you find this information useful and would be happy to answer any questions you might have regarding the update.