With federal regulators becoming more receptive to large deals, bank merger approvals have sped up under the Trump administration. Although the anticipated merger activity volume has slowed relative to early 2019 projections, the fact remains that attention to detail in the execution of these combinations has never been more important.
The name of the Tax Cuts and Jobs Act of 2017 describes its purpose: slashing the US corporate tax rate from 35 to 21 percent would result in executives investing the resultant savings into growing their companies, increasing productivity, creating jobs, equalizing wage inequalities. If only the executives were on the same page. Instead, many are funnelling the lion’s share of the windfall into share buybacks, benefiting their investors.