In this edition of UK Equity Capital Markets Insights, we cover the following developments: • Consultation by the UK Takeover Panel on IPO Disclosures and Dual Class Share Structures - • The Publication of the UK FCA’s...more
On 15 July 2025, the FCA published PS25/9 and PS25/10 outlining its final rules for the new Public Offers and Admissions to Trading regime, which will supersede the existing UK Prospectus Regulation from 19 January 2026....more
Welcome to the Corporate Briefing, where we review the latest developments in UK corporate law that you need to know about. ...more
The Takeovers Panel has declined to make a declaration of unacceptable circumstances in the recent New World Resources Limited 02 case, despite concerns about the bidder’s delay in disclosing on-market purchases of shares at...more
On July 22, 2025, the Alberta Securities Commission (ASC) released reasons for its decision to cease-trade a shareholder rights plan of Greenfire Resources Ltd. The rights plan had been adopted in response to the announcement...more
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
A growing number of companies are delisting from public markets globally. Here we examine what’s driving activity in Singapore and Hong Kong, and explore how shifting regulatory regimes are influencing transaction flows. ...more
The Takeover Panel has published a consultation paper on dual class share structures, IPOs and share buybacks. The proposed amendments to the Takeover Code clarify how the mandatory offer requirements apply to a company with...more
In June 2025, there were twelve Rule 2.7 announcements made across the UK public M&A market and five further possible offers announced. Recommended cash offer by HGGC LLC for Inspired plc – £183.6 million – public to private....more
In its latest annual Market Cleanliness report published yesterday, the Financial Conduct Authority (FCA) has found that 38% of UK takeover targets in 2024 experienced an abnormal increase in their share price in the two days...more
In the recent decision in Re Dropsuite Limited [2025] ATP 10, the Takeovers Panel concluded that a voting intention statement given by a substantial shareholder in the usual form was ‘ambiguous’ as to whether that shareholder...more
In May 2025, there were eleven Rule 2.7 announcements made across the UK public M&A market and ten further possible offers announced. Firm Offers announced this month: Recommended cash offer by Tristan Capital Partners for...more
Welcome to the eighth edition of our newsletter “Public Takeovers in Germany”. It provides a market overview of public takeovers and other public offers carried out in Germany in 2024 in accordance with the German Securities...more
Our Public Takeover Report provides an overview of market trends and legal developments relating to public takeovers in Germany in 2024. A quick glance at the takeover market - With six delisting offers and one mandatory...more
In 2024, in line with our predictions from last year, the UK public takeover market saw a sharp increase in the number of megadeals, i.e., those valued in excess of £1 billion. Seventeen such transactions were announced in...more
Schemes of arrangement are a vastly flexible mechanism to implement take private transactions and other restructuring in respect of Guernsey companies. Schemes are, in effect, a legally enforceable arrangement or...more
Over the past decade, Maryland-incorporated real estate investment trusts ("REITs") have been under increasing pressure to eliminate or reduce defenses against unsolicited takeovers. Boards have been declassified, directors...more
Welcome to the Corporate Briefing, where we review the latest developments in UK corporate law that you need to know about. In this month’s issue we discuss...more
A peaceful election and slowing inflation have put M&A markets in South Africa in a more advantageous position. However, taking advantage of South African deal opportunities requires a clear understanding of a rapidly...more
Many acquisitions, especially privatisations, are structured as a statutory merger, and in this article, we provide a brief overview of Cayman Islands (“Cayman”) mergers and consolidations and the general requirements for...more
On 24 April 2024, the UK Takeover Panel published PCP 2024/1 ("PCP 2024/1"), in which it is consulting on a significant narrowing of the types of companies that will be subject to the Takeover Code (the “Code”) - i.e., as...more
While the 2022 M&A market was buoyed by deal carryover from 2021 and more conducive market conditions in the first half of the year, the 2023 M&A market felt the impact of the Federal Reserve’s most aggressive interest rate...more
Herzlich willkommen zur siebten Ausgabe unseres Newsletters “Öffentliche Übernahmen in Deutschland”. Er gibt einen Marktüberblick über die im zurückliegenden Jahr 2023 in Deutschland nach dem Wertpapier- und Übernahmegesetz...more
Blick auf den Markt und die bedeutendsten Transaktionen - Die Analyse öffentlicher Übernahmen im Jahr 2023 erscheint auf den ersten Blick wie eine Blaupause des Vorjahres. Die bereits 2022 festgestellten Trends bestätigten...more
TYPES OF BUSINESS ENTITIES - There are various entities available in New Zealand from which a business can be operated. The most commonly adopted entities are: 1. Company (including Incorporated Joint Venture (JVC))...more