Kimberly Smith Discusses Impact of Tariffs on M&A Activity with Law360

In a Law360 article examining the impact of President Trump's tariff actions on deal activity, Kimberly Smith, global chair of Katten's Corporate department, shared insights on how the current trade environment is affecting middle-market mergers and acquisitions.

Kimberly remarked on market conditions, stating, "There was really tremendous optimism for deal activity coming into 2025. Overall, the middle-market private equity sector was positioning itself for growth and cautious optimism."

She elaborated on the stall in deal activity, attributing it in part to the ongoing uncertainty surrounding tariffs. "The switch to the new administration was expected to cause shifts in a way that would be beneficial to [mergers and acquisitions] activity. We haven't seen that yet, there's a strong pipeline of deals waiting to come to market, but we're kind of just at a standstill." Kimberly's observations underscore the waiting game many sellers are playing, as they anticipate more stable market conditions before proceeding with transactions.

"How Dealmaking Attorneys Are Navigating Trump's Tariffs," Law360, March 21, 2025