Summary

Payal concentrates her practice on mergers and acquisitions, with an emphasis on representing strategic acquirers and private equity sponsors across a range of industries. She has led numerous complex transactions, including carveouts and cross-border deals and has deep experience in the healthcare, food, manufacturing and industrials sectors.

Her work spans the full deal lifecycle, from structuring and negotiating to execution and post-closing integration, bringing practical insight and commercial acumen to each engagement.

In addition to her M&A practice, Payal advises clients on general corporate matters, commercial contracting, equity and debt financings, and regulatory considerations. Payal also serves as outside general counsel for many of her clients and is called on to provide strategic counsel on governance, compliance, and complex business decisions. She is a trusted advisor to clients, guiding them through high-stakes decisions that extend beyond transactional matters.

Payal serves as co-chair of the firm’s Gender Advancement Committee, where she leads initiatives to develop, promote, and elevate women attorneys at Taft, across the legal profession, and throughout the community. In recognition of her leadership, career accomplishments, and longstanding dedication to advancing women in law, she recently was honored as one of Law Bulletin Media’s 2025 Top Women in Law.

Payal speaks Gujarati, an Indo-Aryan language. She provides pro bono services to the Chicago Architecture Biennial and is also a board member for Alternatives, Inc., a comprehensive, multicultural youth development organization that operates as a support system for more than 4,000 of Chicago’s young people and their families each year.

Prior to joining the firm, Payal was an associate in the health care department of McGuireWoods. She earned her J.D., Order of the Coif, from Emory University School of Law, where she also served as managing editor for the Emory Bankruptcy Developments Journal. She received her B.S., cum laude, from New York University.

 

 

Awards

  • Honoree, Top Women in Law, Sixth Annual Women in the Law Awards, Law Bulletin Media and Chicago Lawyer Magazine (2025)

  • Honoree, 40 Illinois Attorneys Under 40 to Watch, Law Bulletin and Chicago Lawyer (2022)

  • Honoree, “Notable Women in Law” by Crain’s Chicago Business (2022)

  • Honoree, Illinois Super Lawyers Rising Stars, Mergers & Acquisitions (2021 – 2024)

  • Honoree, Best Lawyers® Ones to Watch”, Corporate Law (2021)

All Service Areas

Education

  • Emory University School of Law (2010)
  • New York University (2007)

    cum laude
    B.S.

Admissions

  • State - Illinois

Speeches and Publications

  • Panelist, “Buy and Build: Mastering the Art of Roll-Up Strategies,” Chicago Dealmakers Conference, Oct.16, 2025.
  • Panelist, “Mastering the LOI: Front-End Negotiation Tactics for Buy-Side Deals,” Chicago Smart Business Dealmakers Conference, Oct. 16, 2024.
  • Moderator, “Best Practices for the Corporate Transparency Act (CTA),” ACC Chicago Summit, Sept. 18, 2024.
  • Moderator, “The Family Business Dynamic – M&A, Growth, and Succession Planning,” Chicago Smart Business Dealmakers Conference, Oct. 5, 2023.
  • Moderator, “Transition or Sell: What to Do With Your Family Business,” Chicago Smart Business Dealmakers Conference, Oct. 12, 2022.
  • Panelist, “Negotiation Hot Topics: What Lawyers Need to Know to Succeed,” ACC Chicago Summit, Aug. 30, 2022.
  • Moderator, “Recruiting and Retaining Diverse Talent in a Changed World,” ACC Chicago Summit, Sept. 1, 2021.

Community Involvement

  • Alternatives, Inc.

    Board Member