Boards are facing new risks with increasing frequency and with swift implications for their companies, shareholders, executives, and themselves, particularly given the prevalence of activist shareholders.

For the boards of European companies, the challenges may seem, at first glance, obvious. Europe is wrestling with a series of linked issues... and, inevitably, the fallout from the Brexit referendum.

It is unlikely that there will be much change in the governance and regulation of cross-border deals over the next 18-24 months. For companies contemplating a cross-border deal during this period, a mix of clear vision and steady resolve are essential.

Korea has recently adopted a stringent anti-corruption law that restricts and prohibits the private sector from engaging in certain conduct with not only the regulatory agencies, but also certain financial institutions, as well as the media.

With the proliferation of broadband-delivered media platforms, we are seeing renewed convergence among once-separate media and telecommunications companies.

These merger reviews by the Federal Communications Commission (FCC) and the Department of Justice have customarily focused on divestitures that reflect an historic emphasis on intramarket competition for local advertising.