Invoking Protective Conditions to Terminate Public Mergers and Acquisitions Transactions
Bidder protective conditions (such as material adverse change clauses) are used by bidders in takeover offers of publicly listed targets, allowing them to withdraw their offers costlessly when events specified in such conditions occur. This article examines the scope and efficacy of protective conditions in UK, under the City Code on Takeovers and Mergers and case law, and compares with the regulatory positions in US and Australia. It analyses whether UK should uphold its current regulatory approach towards protective conditions, in the light of recent events
Mergers and Acquisitions, Australia, Comparative law, Material adverse change clauses, Takeovers, United States
Business Organizations Law
Journal of Business Law
Sweet and Maxwell
WAN, Wai Yee.
Invoking Protective Conditions to Terminate Public Mergers and Acquisitions Transactions. (2011). Journal of Business Law. 2011, (1), 64-90. Research Collection School Of Law.
Available at: http://ink.library.smu.edu.sg/sol_research/951
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