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12-month review of UK Public M&A

21 September 2012

Seen as a watershed moment by some, last year's overhaul of the UK takeover rules provoked a good deal of debate.

But how have things shaped up over the past year? We've done some analysis of emerging trends.

Highlights include:

  • Marginally more potential bidders went on to make firm offers for targets than walk away.
  • A significant number of potential bidders didn't benefit from an extension of the automatic 28-day 'put up' or 'shut up' period. Extensions that were given varied in number and length but a block of 28 days was the most common length.
  • The general ban on offer-related arrangements has been applied robustly - the few special exceptions made have largely been financing-related arrangements.

To request a copy of our detailed findings please contact your usual Corporate partner or email corporatepublications@allenovery.com‚Äč