
The State of M&A: Taking the Temperature at Tulane 2025

Effective M&A communications are more crucial than ever.
Dealmakers at the Tulane Corporate Law Institute gathered last week, and while the M&A pipeline isn’t empty, the road to closing deals remains bumpy. Optimism at the end of 2024, fueled by expectations of lower interest rates and post-election clarity, has given way to a more measured reality. The deals are there, but so are some stubborn obstacles.
A Slow Start to 2025
Trade policy uncertainty is delaying deals and forcing creative structuring. National security concerns are complicating cross-border M&A, while the strong dollar favors outbound transactions but deters inbound investment.
Private Equity's Place
PE firms are deploying capital but struggling with tight fundraising and a backlog of unsold assets. With strategic buyers hesitant, alternative deal structures like earn-outs and minority stakes are on the rise.
Activism’s New Playbook
With fewer M&A-driven campaigns, activists are targeting CEOs and pushing for operational overhauls. Universal proxy rules and 13G filing changes are making it harder for companies to gauge investor sentiment, increasing the need for strong communication strategies.
With fewer M&A-driven campaigns, activists are targeting CEOs and pushing for operational overhauls. Universal proxy rules and 13G filing changes are making it harder for companies to gauge investor sentiment, increasing the need for strong communication strategies.
The early months of 2025 have thrown a curveball to those hoping for a quick M&A rebound. In this environment, proactive engagement with investors, regulators, and stakeholders is crucial. A well-executed communications strategy—blending media outreach, public affairs, and direct shareholder engagement—can mean the difference between a deal that gains traction and one that stalls. While uncertainty persists, the need for companies to take control of their narrative has never been greater. The deals will get done, but only those that are positioned strategically and communicated effectively.