EPISODE · Jul 1, 2020 · 22 MIN
Public M&A EP4: Conditions to a takeover offer in the UK
from Herbert Smith Freehills Kramer Podcasts · host Herbert Smith Freehills Podcasts
In this podcast, we look at conditions to a takeover offer in the UK including:what the UK Takeover Panel will allow bidders to include as a condition to an offer andwhen it will allow a bidder to invoke a condition to an offer, in particular a "material adverse change" condition or MAC. This is topical because of the recent ruling by the Panel that a bidder was not permitted to invoke a MAC condition to an offer – the bidder for Moss Bros wanted to terminate its bid because of the impact the COVID-19 pandemic but the Panel would not let it do so.Speakers: Mark Bardell and Antonia Kirkby
What this episode covers
In this podcast, we look at conditions to a takeover offer in the UK including: what the UK Takeover Panel will allow bidders to include as a condition to an offer andwhen it will allow a bidder to invoke a condition to an offer, in particular a "material adverse change" condition or MAC. This is topical because of the recent ruling by the Panel that a bidder was not permitted to invoke a MAC condition to an offer – the bidder for Moss Bros wanted to terminate its bid because of the impa...
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Public M&A EP4: Conditions to a takeover offer in the UK
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