Davis Polk partner Ken Lebrun shared his thoughts with the Financial Times on a potential rebound in Japanese outbound dealmaking. Ken explained how there are increasing signs that 2024 will lead to more deal activity, with interest rates outside Japan beginning their expected decline.

“Nippon Steel’s ambitious acquisition of US Steel may act as a catalyst to encourage other Japanese companies to finally act on their long-term strategic plans to grow overseas,” Ken noted.  

Nippon Steel’s US bet could be ‘catalyst’ unleashing Japan M&A wave,” Financial Times (December 19, 2023) (subscription required)