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UK public M&A 2023 under the Takeover Code: volumes, values, P2P prevalence, overseas bidders, financing, activism, sector trends, regulatory developments and 2024 outlook

Published on: 16 January 2024

Published by a LexisNexis Corporate expert
Legal News
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Article summary

Market Standards Trend Report—trends in UK public M&A in 2023

The Market Standards Trend Report delivers a detailed examination of the 56 firm offers, 39 possible offers and 11 notifications of formal sale processes and/or strategic reviews that were announced throughout 2023 by Main Market and AIM companies within the ambit of the Takeover Code (the Code). Alongside this, it sets out perspectives on public M&A movements and what Market Standards, Lexis+® UK Practical Guidance and our contributors anticipate will materialise in 2024 and beyond. It also distils key insights.

What does the Market Standards Trend Report cover?

The Market Standards Trend Report explores the following:

  • 2024 outlook
  • deal values and overall volumes
  • transaction structures
  • unrecommended, competing and mandatory bids
  • public-to-private (P2P) transactions
  • jurisdiction of bidders
  • industry focus
  • offer timetables
  • bid financing
  • shareholder engagement
  • legal and regulatory developments

The Trend Report features analysis of high-profile transactions, notably EQT’s £4.5bn offer for Dechra Pharmaceuticals, Brookfield’s £2.2bn offer for Network International Holdings, and the rival proposals for Kin and Carta from Apax Partners and BC Partners, all as examined within the report.

What are the highlights from the Trend Report?

...

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