Amendments to UK Takeover Code

Five Key Takeaways for Financial Sponsors From Changes to “Acting in Concert” Presumptions Sullivan & Cromwell LLP - March 13, 2023
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On February 20, 2023, the UK Takeover Panel amended the UK’s takeover rules. A particular focus has been to set out clearly how the rules that determine whether a person is presumed to be “acting in concert” with a bidder apply to financial sponsors and their limited partners. This memo sets out our five key takeaways for financial sponsors, including practical steps to consider in the light of the amendments.

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