Done Deal – Insights from our M&A and Activism team – December 2025
Insights from our M&A and Activism team
Welcome to the latest instalment of Done Deal. Our team leaders Ed Bridges, Alex Le May and Pat Tucker share their perspective on what industry trends they expect to see in 2026. We also feature insights on the recent changes to Glass Lewis’ proxy voting policies regarding the updated Pay-for-Performance (“P4P”) model. Finally, in our colleague spotlight, Jason Leow, a new Senior Managing Director in our Singapore office, offers a brief reflection on current trends and challenges.
Looking Ahead at 2026 Industry Trends
Don’t Be Surprised By Your 2026 Glass Lewis Pay-for-Performance Score
Glass Lewis has introduced another significant update that has largely flown under the radar: changes to its Pay-for-Performance (P4P) model. Our experts break down what this update means for the industry and how companies can stay ahead of the curve as they navigate these evolving policy expectations.
Our Biggest Deals in 2025
Meet our Team: 30 seconds with Jason Leow

Describe your area of expertise at FTI and the value you bring to clients?
I advise companies, boards and senior management teams during transactions and other high-pressure situations where reputation, valuation and stakeholder confidence are closely linked.
My experience spans take-private transactions, shareholder activism in Japan, preparing a U.S. listing for a Taiwanese fintech company, workplace and leadership advisory during periods of organizational stress, and advising on an insurance acquisition that ultimately did not proceed. In these situations, I work closely with CEOs, CFOs, general counsel and, at times, board members.
Clients value an ability to anticipate how decisions will be received by investors, regulators and employees, and to translate complex strategy into clear, credible communication. At FTI, I help clients navigate transactions and special situations by combining disciplined financial communications with practical senior-level judgment, particularly when there is scrutiny, disagreement or uncertainty.
What deal trends are you seeing in your marketplace?
I am seeing increased cross-border listing activity, including Chinese companies considering Hong Kong, and Southeast Asian companies exploring U.S. listings. As a result, familiarity with the U.S. IPO process and investor expectations is becoming increasingly important.
In Singapore, there are early signs of a public markets rebound, which makes it timely to rebuild IPO credentials locally. In Indonesia, the establishment of the sovereign wealth fund Danantara is likely to drive restructuring among state-owned enterprises, creating opportunities not only around transactions but also in change management and stakeholder communications.
Across the region, private equity and venture capital-backed exits are increasingly taking place through the public markets, reinforcing the need for strong investor communications alongside transaction execution.
What do you do outside of work that helps you reset and stay sharp for the next professional challenge?
I rely on fairly consistent routines. I practice yoga twice a week, meditate with a Buddhist sangha, and train at the gym early in the morning several times a week, combining running and strength work. I restrict my alcohol intake to one glass a week, if I can help it.
These habits help me manage stress and maintain perspective, especially during intense situations. When my energy and focus are steady, I’m better able to think clearly, assess risk, and help clients work through complex problems in a practical and measured way.
Contact Us
To be added to the distribution list for FTI Consulting’s M&A and Activism Insights, or for further information on the dedicated M&A and Activism team at FTI Consulting, please contact Edward Bridges ([email protected]) Pat Tucker ([email protected]) or Alex Le May ([email protected]).
| The views expressed in this article are those of the author(s) and not necessarily the views of FTI Consulting, its management, its subsidiaries, its affiliates, or its other professionals. ©2025 FTI Consulting, Inc. All rights reserved. www.fticonsulting.com |