UK Public M&A Monthly Activity Update: July 2025

Firm Offers breakdown this month:

Year to date breakdown:

July 2025 Updates:

UK Public M&A podcast Ep 35: UK Takeover Panel Practice Statement on unlisted share alternatives

In this episode, we talk about Practice Statement 36 which has recently been published by the UK Takeover Panel on unlisted share alternatives.

Topics we discuss include:

• what terms for an unlisted share alternative are acceptable, and what is not acceptable;
• what rights can be attached to the shares; and
• the disclosure required.

To listen to the full conversation please visit SoundCloud, Spotify or Apple.

All episodes in our UK public M&A podcast series are available on our public M&A podcast page.

UK Public M&A podcast Ep 36: Shareholder influence on M&A

In this episode, we talk about the influence we have seen shareholders have on recent transactions.

Areas we discuss include shareholders:

• pushing for M&A;
• influencing M&A, including through the use of irrevocable undertakings and stub equity;
• looking to block deals; and
• being directly targeted for support by both targets and bidders.

We also discuss the key takeaways for companies when dealing with shareholders.

To listen to the full conversation please visit SoundCloud, Spotify or Apple.

All episodes in our UK public M&A podcast series are available on our public M&A podcast page.