In the latest episode in our public M&A podcast series, we look at the role of target shareholders on a bid. We have seen shareholders influence the outcome of a bid in a number of ways recently, including:
- agitating for a bid;
- blocking a bid;
- challenging a scheme at the sanction hearing; and
- bumpitrage.
We discuss the different tactics shareholders may use and what bidders and targets can do to protect a deal.
To listen to the full conversation please visit SoundCloud, Spotify or iTunes.
Links to our previous episodes are below:
- formal sale processes;
- standards of disclosure on public M&A;
- statements of intention;
- conditions to an offer and when a condition can be invoked; and
- public to private (or P2P) bids.
Antonia Kirkby
Knowledge Counsel, London
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