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5 Mar 2025
Insight
UK
Public Mergers & Acquisitions (M&A) in the UK operate in a highly regulated and uniquely challenging environment. Success often depends on understanding the nuances of the UK Takeover Code, anticipating shareholder dynamics, and crafting strategies that align with both regulatory requirements and commercial objectives.
Top tips for handling shareholders and bids
Shareholder dynamics in UK takeover deals are shifting, with investors becoming more vocal - even when a target board recommends an offer. How can bidders and targets navigate resistance and secure support?
In this video, Mark Bardell and Charles Steward explore key considerations for handling shareholder challenges and keeping a deal on track.
Top five tips for P2Ps
After exploring how companies can defend against unwelcome takeovers in the video below, we now shift focus to the other side of the equation - how financial sponsors can successfully take UK public companies private. With attractive deal metrics in the current market, P2P transactions remain a compelling opportunity but executing them requires careful navigation of the regulatory framework.
In this video, Laura Ackroyd, Mark Bardell and Joseph Dennis share five key tips on managing leak risks, engaging shareholders, structuring rollovers, handling management incentives, and ensuring compliance with information-sharing rules.
Top tips for defending against unwelcome approaches
The best defence against an unwelcome takeover is preparation. In this video, Robert Moore, Caroline Rae, and Alex Kay share key strategies - from assessing potential bidders and engaging shareholders to leveraging regulatory tools and strategic defences. Hear how a well-prepared board can respond decisively and protect shareholder value.
Coming soon:
- Top tips for US bidders - Overview of the UK M&A regulatory landscape, focusing on the key differences from the US market.
- Top tips for participating in UK bids - Guidance for global investors on how to participate in UK bids as part of a consortium or as financial backers.
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The contents of this publication are for reference purposes only and may not be current as at the date of accessing this publication. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action based on this publication.
© Herbert Smith Freehills 2025
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