As law firms and clients wait out the legal and regulatory uncertainty after Britain’s decision to leave the European Union, another factor could complicate matters: the falling British pound.
After plummeting more than 12 percent against the dollar on Friday following news of Britain’s exit, the largest same-day dip in the currency’s modern history, the pound tumbled again on Monday to $1.32, its lowest price in three decades.
For deal lawyers, a descent far enough could set off a shopping spree in the M&A space, a best case scenario. For now though, deal activity remains frozen amid the economic uncertainty, lawyers say.
“I think ...
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