Public Takeovers and Mergers
We are a market leader in public takeovers and mergers and advise targets, bidders and financial advisers on UK and cross-border deals. We have experience in recommended and hostile bids as well as those that involve competing bidders.
We advise on:
- strategically significant - we advised PTT Exploration and Production Company, Thailand's national petroleum exploration company, on its first takeover of a UK listed company
- groundbreaking - we advised Greencore on its proposed merger with Northern Foods. This was the first time that the Cross-Border Merger Directive had been used for a merger under the UK City Code on Takeovers and Mergers
We have a good relationship with the Takeover Panel, the organisation that governs public takeovers in the UK.
Many of our largest takeovers and mergers have a financing element and our acquisition and leveraged finance lawyers can advise on complex, highly structured and leveraged deals.
Our key experience includes advising:
Aegis on its recommended cash offer by Dentsu.
PTT Exploration and Production Company on its competing offer for Cove Energy.
Diageo on its acquisition of up to 53.4% in United Spirits Limited, the leading spirits company in India.
Autonomy, the UK's largest software company, on a recommended cash offer by Hewlett-Packard.
British Airways on its merger with Iberia.
Charter on a recommended cash and share offer by Colfax Corporation.
Reckitt Benckiser on a recommended cash offer for SSL International.
Cadbury on the defence of a hostile share and cash offer by Kraft Foods.
Banco Santander on its recommended exchange offer for Alliance & Leicester.
BHP Billiton on the all share offers for Rio Tinto - the first ever hostile bid for a dual listed company by a dual listed company.
Akzo Nobel on a recommended cash offer for ICI.
Reuters Group on its combination with The Thomson Corporation - the first UK-Canadian dual listing.