UK Bids: Take-Private Boom Sees Negotiating Power Shift From Target Boards to Shareholders

As we have covered previously, one of the most noticeable trends that has emerged in the current boom in UK public M&A activity is the heightened level of target shareholder opposition to bids.

This is manifesting itself in a number of ways, including through increased and novel “bumpitrage” campaigns as well as through institutional investors becoming more vocal in expressing their discontent at proposed bids. There appears to be a general feeling among a number of the largest UK institutional investors that private equity are acquiring UK public companies “too cheaply.”

Please continue reading on the Cleary M&A and Corporate Governance Watch blog.