Source: Davis Polk & Wardwell LLP, July 27 2016
On June 23 2016, the UK electorate voted to leave the European Union, a process commonly called ‘Brexit’.
The referendum was advisory rather than mandatory so it will have no immediate legal consequences. It will, however, have a profound long-term effect.
As the next steps will be driven by UK and EU politics, it is difficult to predict the future of the United Kingdom’s relationship with the European Union and their impact on M&A activity.