Takeover Bids by Scheme of Arrangement and Contractual Offers – Part 2
- Podcast Location:
- Sorry, this podcast has been removed as it is now out of date
- Categories:
-
Company Law
- CPD Points:
- Up to 1 point. details »
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- Cost:
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- Length:
- 30 minutes of audio
(+ optional 5 minute online quiz) - Plays on Computer:
- Yes Downloadable as MP3: Yes
- Contributor(s):
- Course Aims:
This podcast aims to focus on 4 principle topics relating to the choice in takeover bids between schemes of arrangement and contractual bids, looking at deals and current market practices. Firstly the conceptual possibility of a hostile takeover by way of a scheme of arrangement, secondly the reasons for the changes to Appendix 7 Takeover Code relating to schemes. Thirdly the potential for a scheme to run into procedural difficulties in obtaining the necessary consents from both the court and shareholders and fourthly, the means by which a bidder can maximise their control over the scheme which typically favour the target in terms of timetabling.
- Outcomes:
- After completing the course you will:
- Understand the role HgCapital made to our understanding of hostile schemes of arrangement;
- Understand the reasons for the new Appendix 7 to the Takeover Code and its relevance for schemes;
- Understand the procedural hurdles in getting a scheme approved and the potential for derailment by either the courts of a dissident and vocal minority block of shareholders;
- Be aware of the practical measures by which dissent can be overridden or overcome;
- Understand the means by which a bidder can exert more control over the unfolding of a scheme of arrangement and the potential pitfalls of going too far.
- Level:
- Complex
- Classification:
-
Case Update
Legislative Updates
Practical Guide
Procedural
- Sources and References:
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- Takeover Codes - Appendix 7.
This podcast is the second in a two-part CPDcast mini series on takeovers bids and the factors influencing the choice between a scheme of arrangement or a contractual bid in achieving desired outcome to the transaction.
This podcast will focus on some of the more technical features of an M&A transaction including hostile schemes, the changes to the Takeover Panel Rules dealing specifically with schemes, the potential procedural pitfalls when seeking shareholder approval of a scheme and the role of the courts and the control of the bid procedure.
Podcast added: 27/05/10
This course has now been removed from the site. It is no longer suitable for CPD purposes as it contains information that is out of date or incorrect. For a list of our latest CPDcasts, please visit the library.
