Preliminary issues

Preliminary issues

Public company takeovers quiz

We have prepared a public company takeovers quiz, which tests users’ knowledge on various aspects of the UK takeover regime. The quiz is in multiple choice format and at the end of each question the correct answer is displayed together with feedback and links to relevant materials. The quiz is intended for use by private practice lawyers, in-house counsel, corporate finance professionals and other parties engaged on takeover transactions. For further details, see Practice Note: Public company takeovers quiz.

Preliminary matters—the offeror

There are a number of steps for an offeror to make at the outset of a takeover transaction, including:

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establishing the bid team including appointing external advisers
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planning bid strategy
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considering how the bid will be structured
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deciding the form of consideration to be offered to target shareholders (which is likely to be driven by commercial, financial and tax considerations)
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considering what consents, notifications or approvals will be required

For information on these issues, see Practice Note: Prior to a bid—the offeror and Checklist: Preliminary considerations—offeror—checklist.

Financial advisers have a particular responsibility

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