Mergermarket M&A Forum Chicago 2023
The must-attend event for US dealmakers returns!
The Ritz-Carlton, Chicago
11
Jul
M&A update: Dealmaking during times of uncertainty
According to Mergermarket data, US M&A was worth US$309.58 billion in Q3 2022 – a marked decrease from the previous two years. The recent slowdown in M&A activity and a rapidly changing global economic outlook is prompting dealmakers to take a thematic approach, whether through complimentary bolt-on acquisitions or buying a company to enhance their overall digitalization capabilities. Distressed opportunities may also be on the horizon and although availability of leverage is reduced, private equity dry powder levels are high. Indeed, because many strategics have strong balance-sheets, it will be interesting to see where deal flow is sourced, how transactions are restructured, and which parties are most active in the year ahead.
- How is the banking crisis and current sentiment in the capital markets shaping M&A?
- Will the changing macro environment halt the M&A market, and will we see more distressed opportunities?
- What are the current trends in North American M&A, and how has the opportunity set in the Midwest evolved?
- Which sectors are investors turning to for defensive acquisitions that can offer growth over the next five years?
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SpeakersDayna Fields Senior M&A Reporter MERGERMARKET
Andrey Galiuk Vice President, Corporate Development & Investor Relations DOVER CORPORATIONRachel Strick Head of Immunology Business Development & Acquisitions ABBVIE
Warren Estey Head, U.S. Mergers & Acquisitions Group BMO CAPITAL MARKETS
Andy He Managing Director ALIXPARTNERS
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Rachel currently leads the Immunology Business Development & Acquisitions (BD&A) at AbbVie, from strategy development through deal execution for this core therapeutic area. She also oversees the company’s BD&A in AI/ML-Enabled Drug Discovery and its China Partnering Center of Excellence. Her previous deal experience has included Oncology, Virology, Women's Health and other Specialty disease areas. She has represented AbbVie across a wide spectrum of both inbound and outbound deal structures, including licenses, options, acquisitions/divestitures, research alliances and other collaborations. She has completed deals with public companies, privately held start-ups and academic institutions. In addition to her deal work, Rachel enjoys mentoring and managing junior talent.
Rachel joined Abbott/AbbVie in 2009 as part of the Commercial Management Development Program, holding various roles in Sales and Marketing. After serving as Senior Product Manager, Bardoxolone, Global Marketing, she worked on AbbVie’s separation from Abbott and various post-merger integrations, including that of Pharmacyclics while serving as Director, AbbVie Transition Office. Rachel joined the Business Development & Acquisitions team at the end of 2015. Prior to joining Abbott, she was a strategic management consultant for firms including BCG.
Rachel attended Stanford University, where she earned both an MBA from the Graduate School of Business and an MA from the Center for East Asian Studies. Her undergraduate degree is from Brown University, in Engineering and East Asian Studies.
Warren Estey is Head of the U. S. Mergers & Acquisitions Group and a member of the Global Leadership Committee at BMO Capital Markets. He joined the firm after 23 year at Deutsche Bank. During his tenure there, he held positions as Vice Chairman of Investment Banking Coverage & Advisory, as Head of the Natural Resources Group, Americas and as Co-Head of the U.S. Equity Capital Markets Group. Warren has extensive transactional experience advising clients across a broad range of industries, products, market caps and geographies. Over his career, he has executed approximately 400 transactions for clients representing in excess of $240B of value. Warren has also held leadership positions in Bank of America’s Consumer Division and as an Armor Officer in the U.S. Army.
Warren earned an MBA from The Darden School at The University of Virginia, where he has since served as the Chairman of the Darden School Alumni Board of Directors and as a member of The Darden School Board of Trustees. Warren earned a BBA from the University of Miami, which he attended on a full Army ROTC Scholarship.
Warren currently serves on the Board of Directors of Homeless Solutions, Inc. where he is also Chairman of the Finance Committee.
Andy He has extensive experience helping clients with designing and implementing large-scale value creation and transformation programs, as well as driving M&A initiatives across the deal lifecycle. He specializes in solving complex challenges and delivering measurable and accelerated results. He takes a highly-collaborative and culturally-attuned approach to drive changes that are impactful and sustainable.
His industry expertise spans Technology, Media, and Telecom (TMT), Financial Services, and Healthcare. His clients range from thriving companies seeking rapid growth to distressed organizations in need of accelerated turnaround.
He holds a Ph.D. degree in electrical engineering with a minor in social science from California Institute of Technology.