News & Analysis as of

Acquisitions Takeover Bids United Kingdom

White & Case LLP

Five things you need to know about the latest Panel consultation

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On 24 April 2024, the Takeover Panel published a consultation paper, PCP 2024/1, which proposes to narrow the scope of the companies to which the Takeover Code (Code) applies. The changes would have the effect of removing UK...more

Latham & Watkins LLP

The Rise of the Competitive Scheme and Other Developments for Private Equity P2P Bidders

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Private equity’s growing appetite for UK-listed targets comes with the need for Takeover Code-savvy dealmakers. Amid stiff competition for attractive private targets, PE firms are competing more regularly against...more

White & Case LLP

5 things you need to know about … public to private bids

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PE dominance - Private equity and family offices are exerting increasing influence over public takeovers in the UK, with public to private transactions ("P2Ps") making up more than 2/3 of all bids in H1 2021 and...more

McDermott Will & Emery

UK Public Takeovers: The Point of No Return

The challenges raised by the Coronavirus (COVID-19) crisis initially led to a dramatic fall in share prices and market uncertainty. Although the capital markets have largely recovered their value since the initial COVID-19...more

Skadden, Arps, Slate, Meagher & Flom LLP

Moss Bros: The Difficulty of Invoking MAC Conditions in UK Public Takeovers

The Takeover Panel (the Panel) has confirmed again in the Moss Bros case how difficult it is for bidders to invoke material adverse change conditions (MACs) and lapse offers in the UK. On 12 March 2020, Brigadier Acquisition...more

White & Case LLP

Five factors for lenders to consider in connection with a P2P

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Although acquisition activity in the European leveraged finance market has been on an upward trajectory since 2012, 2018 saw a substantial increase in buyout activity, which reached €57.6 billion in total, marking a return to...more

Latham & Watkins LLP

Innovative Insurance Products Address Legal Issues in Public M&A

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Dealmakers’ appetite for transactions involving publicly listed companies remains strong — 2016 saw an increase in deal volume, a trend which continues into 2017. However, deals remain challenging, partly due to limitations...more

Latham & Watkins LLP

Break Fees Can Cause Broken M&A Deals

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Given ongoing competition between buyers in a strong sellers’ market, the resilience of seller break fees as a feature of the European M&A market is surprising. According to the Latham & Watkins 2017 European Private M&A...more

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