Court of Appeal of England and Wales Considers Important Questions for UK M&A Transactions

In the recent case of Arbuthnott v Bonnyman, the Court of Appeal of England and Wales (England’s second most senior Court) considered a number of important questions for UK M&A transactions including:

• the circumstances in which an amendment to the constitutional documents of a target company to insert a drag right might be challenged; and
• the general duties of target company directors in connection with an offer for the target company.