Overview of 2019 Takeovers

Overview of 2019 Takeovers

2019 has seen a 20% increase in takeover transactions, with 109 transactions compared to the 91 takeover transactions announced in 2018. This staggering growth included increases of 57% in firm offers, 82% in transactions structured as contractual offers and 45% of transactions structured as scheme of arrangements. The data suggests that although the structure of scheme of arrangements remain the preferred choice of structure for transactions in 2019 (45 scheme of arrangements and 20 contractual offers) contractual offers were more popular than in 2018.

There were five contractual offers that were initially hostile which saw one transaction switching to a recommended offer (offer for Bonmarche Holding plc by Spectre Holding Limited). The surge in hostile offers in 2019 also saw two target companies

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Market Tracker is a unique service for corporate lawyers housed within Lexis®PSL Corporate. It features a powerful transaction data analysis tool for accessing, analysing and comparing the specific features of corporate transactions, with a comprehensive and searchable library of deal documentation across 14 different deal types. The Market Tracker product also includes news and analysis of key corporate deals and activity and in-depth analysis of recent trends in corporate transactions.