Practical Guide to Mergers and Acquisitions

Takeover regulation in the UK has seen a myriad of changes recently, from the ban on break fees and the automatic “put up or shut up”, to enhanced rights for pension scheme trustees and employees and significantly greater disclosure and transparency. This book provides clear guidance on the law, regulation, best practice and procedures involved in conducting public mergers and acquisitions.

Public M&A in the UK involves the acquisition of the shares of a public company and a detailed public disclosure process, culminating in a shareholder vote or decision on whether to accept the offer. UK takeover regulation is intended to ensure that all shareholders in the target company are treated fairly and given a proper opportunity to decide on the merits of a bid. The board of the target company decides whether to recommend the bid but the ultimate outcome lies in the hands of shareholders alone.
This book summarises the current law and regulation relating to UK takeovers including not only the recent changes to the Takeover Code but also other  regulation, such as competition law, squeeze-out of minority shareholders and schemes of arrangement. The book focuses on providing practical help to practitioners, company secretaries, in-house legal teams and financial advisers including helpful tips, avoiding common pitfalls, real life case studies and checklists. Each chapter is written by leading experts in the field. It will be an invaluable tool for anyone wanting to get to grips with the UK takeover minefield.