Randy Kahnke, Faegre Drinker

Partner, Faegre Drinker

What are the biggest challenges you currently see in the M&A world?

As a litigator, I see challenges that relate to making agreements durable, even in the face of change. How do you anticipate changes in market dynamics, in the regulatory landscape, or on the global scene? How will these changes affect the fundamental assumptions of the parties to the transaction, and their anticipated results from the deal? If these changes are not appropriately anticipated and accounted for, post-closing litigation may result — then the real fun begins.

Without revealing the names of a client, what is the most interesting transaction you’ve worked on lately?

One of the most interesting transaction-related cases that I’ve worked on lately was a trial that involved the parties’ interactions after the close of the deal. There was essentially an earnout clause that required the parties to work collaboratively with one another. Unfortunately, the parties were both collaborators and competitors, and thus their interests were not always aligned. Not surprisingly, this interfered with their collaborative efforts and gave way to their roles as competitors. What followed was not pretty.

How do you manage work/life balance?

It’s simple: TW = T3. 

For lawyers, work/life balance has two main components (no, not work and life): client needs and your ability to meet them. When clients are closing a deal or preparing for trial, they are laser focused on their objective, and they need their lawyers to be similarly focused and engaged. That’s the “client needs” part of the equation. So how does a lawyer meet those client needs? One word: teamwork. No single lawyer, no matter how intelligent or hard working, ever closed a significant deal or won a complex case on their own. What does building a team require? Simple: teamwork = talent x training x trust. Or if you like, TW = T3.

What is one thing you would change about Minnesota if you could?

The weather. A tip: Do most of your recruiting during the second and third weeks of June. Also, fall is my favorite season, and I try to enjoy both days.