Overview of the German public M&A market in 2021 - The overall boom in M&A in 2021 was confirmed in Germany's public M&A sector, with a total volume of EUR 67.3 billion. Despite being influenced mainly by several special...more
On 17 November 2021, the Takeover Panel (the “Panel”) published Panel Bulletin 3 (the “Bulletin”) relating to the requirements of Rule 2.10(c) of the Takeover Code (the “Code”). Under Rule 2.10(c), a person who has given an...more
As noted in our recent LawFlashes, New Powers for UK Government in Transactions Impacting Public Health Emergencies and National Security and Potential UK Reforms Could Increase Screening of Certain Foreign Takeovers,...more
• President Trump issued an order prohibiting the proposed $1.3 billion takeover of Lattice Semiconductor Corporation, a U.S. company, by Canyon Bridge Capital Partners, Inc., a private equity firm funded by Chinese...more
Goldman Sachs—the last big-bank holdout—has agreed to resolve a spate of state and federal investigations related to its role in the 2008-era MBS debacle for an eye-popping $5.1 billion – WSJ and Bloomberg and Law360... ...more
Our top hits of the past week just keep on coming, including: The Deal Professor reviewing the “snap judgments” on what led to Valeant’s current mess—explanations that include “Valeant as Enron,” a McKinsey-driven...more
Japan’s Sharp Corp.—a 103-year-old company that’s progressed from mechanical pencils (“Ever-SHARP”) to calculators to LCD TVs—has surprised many by agreeing to a $6.24 billion takeover offer from Taiwan’s Foxconn (best known...more
Acquisitions that result in a change of control of a Hong Kong-listed company — defined as 30 percent or more of the voting power — trigger a mandatory general offer to all shareholders of the company. The Hong Kong...more
Matthew D. Cain, of the SEC, and Professor Steven Davidoff Solomon of the University of California, Berkeley – School of Law, published a report analyzing preliminary statistics for takeover litigation in 2015. According to...more
SABMiller has accepted a takeover proposal from Anheuser-Busch InBev, the world’s largest brewer, in a deal that would include cash and stock worth 68 billion pounds ($104.4 billion). The new conglomerate would brew more than...more
This Glossary contains many of the important terms and definitions used in the M&A world. The Glossary is not exhaustive, however. Like most areas of the law, M&A is a highly complex subject that involves several legal and...more
On February 26, 2015, the Committee on Foreign Investment in the United States (“CFIUS”) - the interagency body charged with reviewing the impact on U.S. national security of any merger, acquisition or takeover that could...more
Because many publicly listed companies in France have significant or controlling shareholders, public tender offers have the potential to create conflicts of interest within the board room. These conflicts arise whether the...more
The Federal District Court’s November 4th ruling in Allergan, Inc. vs. Valeant Pharmaceuticals International, Inc. raises “serious questions” for the takeover partnership employed by Valeant and Pershing Square in their...more
Strategic investors extend current offers - Current offers include the takeover offers to the shareholders of DAB Bank AG, Sky Deutschland AG and Homag Group AG, as well as the acquisition offer for shares of Swarco...more
On September 11, 2014, the Canadian Securities Administrators (CSA) announced the publication of CSA Staff Notice 62-306, which contemplates a new harmonized regulatory approach to the Canadian take-over bid regime....more
On 21 June 2013, the Australian Securities and Investments Commission (ASIC) released four new Regulatory Guides, which update and consolidate the bulk of its guidance about takeovers. The new Regulatory Guides cover...more
For any potential bidder considering the acquisition of a listed company, issues such as ease of transaction execution, the ability to respond to a competing offer, timetable and cost will be of great importance. The chosen...more
Amendments include new requirements regarding offerors' intentions, documents provided to trustees, trustees' opinions on offers, and publication of agreements between offerors and trustees....more
This article discusses the issues an owner, lender, completion contractor, and surety should consider when drafting a takeover agreement. Although each of these four main parties may share the basic goal of seeing the project...more