Takeover Code Update Course

 Location: London (Central)

Significant changes to the Takeover Code are expected to come into effect on 19 September 2011 as a result of the Code Review, which followed the Kraft takeover of Cadbury.

These changes will have an impact on the way takeovers are planned and negotiated, as well as on the disclosures which are required.

This course examines the new rules, the reasons for the changes and the likely impact they will have on takeovers. It also covers developments in Schemes of Arrangement and other recent rule changes.

Course categories:Corporate Finance Courses, Back Office Courses, Investment Banking / M & A Courses, Legal Compliance Courses, Operations Settlements Clearing Courses, Private Equity / Venture Capital, Back Office Inhouse Courses , Corporate Banking Inhouse, Corporate Finance Inhouse, Corporate Restructuring Inhouse, Legal / Compliance Inhouse, Risk Management Inhouse

COVERED TOPICS

The Code Review

Background for the changes

• Reaction to Kraft/Cadbury
• Changes in marketplace
• Panel’s concerns and objectives
• Timing

Protection against protracted “virtual bids”

• 28 day “Put Up or Shut Up”
• Naming of potential offeror
• When required
• Multiple and subsequent offerors
• Practice Statement 20
• Exceptions and extensions to 28 day PUSU
• Revision to Rule 2.8
• Dispensation from announcements
• Impact on bids

Prohibition of deal protection measures and break fees

• What deal agreements are prohibited?
• Exceptions
• White knights
• Sale processes
• Other provisions
• Schemes of Arrangement
• Timetable requirements
• Impact on bids

Improvements to disclosure

• Offer related fees and expenses
• Offeror financial information
• Financing of offer
• Documents on display
• Impact on bids

Interests of offeree’s employees

• Disclosure of plans and changes
• Offeree board recommendations
• Period of adherence
• Publication, content and display of documents
• Communication with employee representatives
• Employee representatives’ opinion
• Impact on bids

Miscellaneous

• Offer period definitions
• Financing pre-conditions

Other updates

Schemes of Arrangement

• Evolution of Schemes
• Competing offers: timetable issues
• Switching

Other 2010/11 updates

• Extended disclosure regime
• Changes to Rule 5
• Management incentivisation
• Proposed changes for profit forecasts

REGISTRATION & PRICING INFORMATION

Contact us if you are looking to book multiple participants as we offer discounts as follows:

• 1-2 participants - full price
• 3-4 participants - 15% discount
• 5-6 participants - 20% discount
• 7-8 participants - 25% discount
• Over 9 participants - 30% discount

For more information or to be contacted by the event provider please fill this form:

Registration price

750.00

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Price: 750.00 GBP
Location: London (Central)
Event date: 18.10.2012 - 18.10.2012
Event duration: 7h30
Event time: 09.30 h - 17.00 h

ADDITIONAL DATES

CONTACT US

Email: info@financialveritas.com

Phone: +44 208 133 5917