Cravath Publishes Quarterly Review on Q3 2025 Trends in M&A, Activism and Corporate Governance

On November 10, 2025, Cravath published the latest edition of its Quarterly Review, which provides insight into practical points, key takeaways and relevant developments across the M&A, activism, restructuring, regulatory and corporate governance landscape. This edition covers:

M&A

• The Bigger the Better: What a Spike in Mega-Deals in Q3 Means for M&A Professionals 
• Key Delaware Case Law Review: Bylaw Amendments and Activism Defense; Director Oversight and Reporting Systems 

ACTIVISM

• SEC Permits ExxonMobil’s New Retail Voting Program

RESTRUCTURING

• 23andMe Case Study: A Lesson in Creative Structuring for Distressed Businesses

REGULATORY

• Antitrust in the Current Administration and Other Key Antitrust Developments
• CFIUS Publishes the Unclassified Version of Its Annual Report
• FTC Developments on Non-Competes
• DOJ and HHS Collaborate on Enforcement of Violations of the False Claims Act 

CORPORATE GOVERNANCE

• SEC Staffing Developments; Policy Statement on Mandatory Arbitration; Texas’s Anti-ESG Law

Please click here to read the full report.