M&A – reasons to be cheerful

Another day, another mega-deal. Last week (see story) a private equity consortium gobbled up the US’s largest radio station owner Clear Channel for $26.7bn (£14.03bn).

Today (see story) it emerged that Blackstone has launched a $36bn (£18.9bn) bid for the US’s biggest landlord, Equity Office Properties Trust.

While the US Department of Justice and the UK’s Financial Services Authority are investigating the behaviour of private equity houses, it will take a while before any reforms can affect their power.

Just two weeks ago The Lawyer revealed that top partners at Slaughter and May were on course to reap £2.5m per partner on the back of the M&A boom. While partners cautioned against too much optimism, the outlook is looking rosier by the week.