Frank Aquila and Alison Ressler Discuss the Broadcom Block with The American Lawyer

March 15, 2018
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In The American Lawyer article “Qualcomm Order Sparks Fresh Jitters for Some M&A Deals,” Frank Aquila and Alison Ressler comment on how this decision impacts future cross-border deals. “This goes a little beyond the norm and may be very well utilized by regulators in other countries, who will say, 'We can do this too to protect our companies,'” Frank said, stating that the decision is “a much more populist approach to regulatory approvals.” “We have been advising clients for some time on the increased risk in cross-border, technology-related deals involving U.S.-based targets,” Alison said. “While this transaction is sui generis, the action taken by the government to block it in the manner it did was a clear sign that any company seeking to buy a U.S.-based technology company today has to carefully analyze the transaction. This should be expected to reduce the available buyers for U.S.-based companies in the sector and therefore will lead to fewer deals of this size where there aren't as many logical buyers in the U.S.”