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‘Go shop’ provisions: the exception or the new mainstream?

Australia - April 30 2021 A ‘go shop’ provision has recently been used to secure a superior proposal for a target company. That in turn led to another bidder emerging. We…

Jason Jordan, William Kunstler.

Takeover Defence: Recent Trends, Themes and Tactics

Australia - February 26 2021 By value, there were US$3.16 trillion of transactions globally in 2020, down 6.6% on 2019. Activity was subdued in the first half (no surprises), but…

Kam Jamshidi.

Takeovers Panel refuses to break a truth in takeovers deadlock

Australia - November 30 2020 The Takeovers Panel has held two bidders for Cardinal Resources Limited to their last and final statements, despite both offers being stuck in a…

Claire Thompson.

Competing bids on the increase

Australia - October 30 2020 In the last 12 months or so, we have seen a significant increase in the number of competing takeover bids. While competing bids have always been a…

Observations on ASIC’s latest corporate finance update

Australia - September 29 2020 Earlier this month, ASIC released a report about what it is seeing in M&A markets and explaining some novel M&A relief applications it has considered. It is interesting to review these as they reveal some of the key issues in the regulation of M&A practice in Australia.