Public M&A podcast – Takeover Panel consultation

In our latest public M&A podcast, we discuss the consultation paper published by the Takeover Panel (PCP 2020/1), in which it is proposing to amend various provisions in the Takeover Code relating to the conditions to an offer and to the offer timetable. The key changes include: removing the special treatment afforded to conditions relating … Read more

New FDI regime in the UK with immediate effect

The government has introduced a new National Security and Investment Bill to Parliament, which will overhaul the regime for reviewing transactions on national security grounds in the UK. The new regime will be “pro-active” immediately: whilst it will not be possible to notify deals for clearance under the new regime prior to formal commencement of the final … Read more

Takeover Panel consultation on conditions to an offer and the offer timetable

The UK Takeover Panel has published a consultation PCP 2020/1 in which it is proposing to amend various provisions in the Takeover Code relating to invoking the conditions to an offer, particularly those relating to regulatory / merger control clearance, and to the offer timetable. The consultation closes on 15 January 2021. The Panel says that it … Read more

Public M&A podcast – how the Takeover Code applies in a distressed situation

The Covid-19 pandemic has hit a huge number of businesses and they will be exploring various options to repair their balance sheet or protect their business. Those options might include: seeking a full takeover or finding a cornerstone investor for the company In each case, if the company is governed by the UK Takeover Code, … Read more

Our latest M&A update briefing and webinar

We have published out latest M&A update briefing in which we look at the latest developments and trends, including: current M&A activity levels; what has changed on M&A transactions because of the Covid-19 pandemic; what we are seeing on public M&A transactions; some of the particular features of a distressed M&A transaction; and the potential … Read more

Public M&A Podcast Series Episode 5: Public to private (or P2P) bids

The Covid-19 pandemic has meant that we have seen a drop off in public M&A activity in the UK, but as prices stabilise and activity picks up again, we expect to see financial buyers, such as private equity and sovereign wealth funds, leading the way. In this podcast we discuss some of the features of … Read more

Latest FCA Primary Market Bulletin

The Financial Conduct Authority (FCA) has published the 30th edition of its Primary Market Bulletin (PMB). Topics covered in the PMB include: PDMR dealing notifications – It reminds persons discharging managerial responsibilities (PDMRs) of the importance of notifying dealings under the Market Abuse Regulation (MAR). This follows its first enforcement action for breach of the … Read more