Insights: Clients

Energy, Financials, Healthcare, Macro, Tech / Media / Telecom

Reconciliation & Debt Limit

House and Senate Republicans are this week taking their initial steps towards enacting their reconciliation legislation, which enables them to enact changes on taxes, Medicaid, defense, and border security, among other issues on a partisan basis. The first step in this process is to pass a “budget resolution” that establishes the high-level...

Tariffs (Mexico, Canada, China, Europe)

The 25% tariffs imposed by President Trump on Mexico and Canada were suspended for 30 days after he had calls with Mexican President Sheinbaum and Canadian PM Trudeau. Meanwhile, China has put in place retaliatory tariffs in reaction to the 10% tariffs imposed by Trump. Trump and Chinese President Xi are apparently scheduling a call for some...

Energy, Healthcare, Macro, Tech / Media / Telecom

House Republican leaders are struggling to take the first step in the process of passing their “reconciliation” (tax/spending) legislation, which is to pass a “budget resolution” that defines how the reconciliation bill will impact the deficit. Conservatives want the bill to reduce the deficit more aggressively than Republican leaders feel is...

The Trump administration’s tariff policy remains unsettled, but there are a number of dynamics that are clear... (a) President Trump continues to emphasize in interviews and discussions with Congressional Republicans that tariffs are a central part of his economic agenda, (b) he wants to impose broad-based “universal” tariffs, particularly related...

Mergers & Acquisitions

Omnicom/Interpublic

Recent/upcoming developments… The merger’s 30-day HSR waiting period is set to expire on February 6. Our outlook… We expect the companies will receive a second request this week unless they pull and refile their HSR filing. However, we believe a decision to issue a second request would be driven more by political considerations than substantive...

Mergers & Acquisitions

Upcoming/recent developments… The DOJ filed a lawsuit last week seeking to enjoin the proposed merger. The case was assigned yesterday to Northern California Federal District Court Judge P. Casey Pitts, a 2022 Biden appointee. After graduating from Yale law school in 2008, Pitts clerked for 9th Circuit Court Judge Stephen Reinhardt and...