The Banking and Corporate Finance Training Specialist Takeover Code - Advanced Current Strategies & Tactics This course is presented in London on: 08 November 2018, 15 March 2019, 24 October 2019 This course can also be presented in-house for your company or via live on-line webinar
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Current Strategies & Tactics - Redcliffe Training · Appreciate the advantages and disadvantages of the structure chosen for the takeover See how target companies have defended themselves
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The Banking and Corporate Finance Training Specialist
Takeover Code - Advanced
Current Strategies & Tactics
This course is presented in London on:
08 November 2018, 15 March 2019, 24 October 2019
This course can also be presented in-house for your company
Negotiate, open books or make possible offer announcement?
Effects of a possible offer announcement and timing Advantages of an auction
When should Target refuse to talk? When to open up books? Case Study: AstraZeneca/Pfizer
Case Study: Shire/AbbVie Forecasts and undertakings
Profit/dividend forecasts Restructuring and valuations Share buy-backs and special dividends
What works best? Pleadings
Anti-trust White knight/squire Bolster the board
“Get them before they get you”
Both Sides’ Strategies and Tactics Conflicts of interest Examining documents/statements
Case Study: Tactics in hostile takeover of GKN by Melrose Financial and managerial arguments
Direct approach to shareholders/analysts
The trainer has spent over 20 years in the City advising on a wide range of corporate finance transactions. He now provides corporate finance training courses on takeovers,
London listings and other UK market regulation, as well as providing independent corporate finance advice. His courses draw on his extensive technical knowledge and are illustrated with relevant examples from his own experience and recent transactions.
This course covers key rules in the Takeover Code regulating takeovers and the bid
strategies and tactics that are used in the current marketplace.
The tactical advantage that possible bidders have had in takeovers has changed since the Code Review and the course examines the numerous effects this has had on bidder and target strategies.
Participants will learn how takeovers are conducted from the initial stages to the
completion or lapsing of the bid and will gain an understanding of which strategies and tactics have and which have not worked. This is illustrated with examples from many transactions including the recent hostile takeover of GKN by Melrose and the on-going
contested takeover of Sky by Disney/Fox and Comcast.