Commentary

186 Inducement fees and other offer-related arrangements

COMPANIES vol 11 acquisitions, mergers, demergers
| Commentary

186 Inducement fees and other offer-related arrangements

| Commentary

186 Inducement fees and other offer-related arrangements

Except with the consent of the Panel on Takeovers and Mergers (Panel), neither the target company nor any person acting in concert with it may enter into any offer-related arrangement with either the offeror or any person acting in concert with it during an offer period or when an offer is reasonably in contemplation1. An ‘offer-related arrangement’ means any agreement, arrangement or commitment in connection with an offer, including any inducement fee arrangement or other arrangement having a similar or comparable financial or economic effect, but excluding:

  1. 186.1

        a commitment to maintain the

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial