On 3 July 2025, the UK Takeover Panel (Panel) published a new Practice Statement 36 (PS 36), which provides formal guidance on how the Panel will interpret and apply the Takeover Code to an “unlisted share alternative” (known...more
Over recent years, a prolonged period of low interest rates, together with a competitive financing market, has resulted in greater leverage and control for private companies (and their sponsors) when it comes to negotiating...more