Jaray Zhao (Toronto)

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Looking Beyond COVID-19: How Companies Can Prepare for the Post-Pandemic Economy

By Jaray Zhao (Toronto) on April 14, 2020 Posted in M&A

As COVID-19 continues to sweep across the world, it is has undoubtedly taken the global financial markets by storm. Despite the unprecedented social and economic disruptions brought by the pandemic, Ernst & Young’s Capital Confidence Barometer Survey (the Survey) of more than 2,900 C-suite executives globally shows that more than half (56%) of them continue … Continue reading

Strategies for parenting start-ups, post-acquisition

By Jaray Zhao (Toronto) on January 17, 2019 Posted in M&A, Technology and innovation

In recent years, we have seen more acquisitions of start-ups by big corporations in the tech industry, healthcare, retail, fashion, beauty, food, and transportation. The benefits of M&A transactions in these sectors has been more widely recognized. For instance, for a start-up, partnering with a large corporation provides broader market access, deeper industry knowledge and … Continue reading

Ripples of #MeToo in the M&A world: examining the “Weinstein Clause”

By Jaray Zhao (Toronto) on October 25, 2018 Posted in M&A

A recent report Bloomberg indicates the increasing relevance of buyers staying away from a “#MeToo company” in M&A transactions – i.e., a company facing sexual misconduct allegations. This does not suggest that buyers are staying away. Instead, buyers are developing novel ways of addressing the risk brought upon by a “#MeToo company.” The first method … Continue reading

Digitalization – the pill for M&A failures?

By Jaray Zhao (Toronto) on July 19, 2018 Posted in M&A, Technology and innovation

It is a generally accepted fact that a significant number of M&A deals fail to deliver value post-closing. In a recent survey (the Survey) discussed in the Deloitte 2018 M&A trends report (the Report), 55% of respondents agreed that up to 25% of their M&A deals fall short of meeting or beating expectations. We’ve discussed … Continue reading

Are megadeals coming back?

By Jaray Zhao (Toronto) on April 12, 2018 Posted in Antitrust, competition and regulatory, M&A

The year of 2017 witnessed a worldwide slowdown in the number of megadeals[1]. According to a recent Mergermarket Report (the Report), the global total for the number of deals worth US$4 billion or more decreased from a peak of 158 in 2015 and 133 in 2016 to 129 in 2017. In Canada, the number of … Continue reading

Why some tech M&As fail to deliver value

By Jaray Zhao (Toronto) on January 4, 2018 Posted in M&A, Technology and innovation

In a recent blog post, we explored the reasons why a sizable number of M&A deals fail to complete every year. As discussed in that post, the closing of an M&A deal does not necessarily announce the success of a transaction. In fact, as high as 60% of M&A deals fail to deliver value even after a … Continue reading