Takeover Defenses in the United Kingdom

Isidora Tachmatzidi

International Journal of Economics & Business Administration (IJEBA), 2018, vol. VI, issue 4, 105-118

Abstract: The present paper provides a framework of takeover defenses in the United Kingdom and analyzes the role of takeover defenses in the UK that has implemented the EU Takeover Directive in its jurisdiction. There is an analysis of UK hostile takeovers and takeover defenses regulation, along with the case law that formulated it. There is a presentation of takeover defenses involving frustrating actions, such as restructuring defenses, target repurchases, litigation, as well as defensive actions, including strategies such as the defense document strategy, lobbying, seeking alternative bids, profit forecasts. The analysis of takeover defenses in cases of hostile takeovers in the UK market aims to enhance the understanding of their application framework and to provide further insight on the way the structure of the economy influences takeover defenses and vice-versa. It, also, intends to provide feedback for the assessment of economic processes on potential restructuring and normalization in the UK as well as the EU, especially in the light of Brexit that will likely create extensive negotiations on future policy implementation both in the UK and EU.

Keywords: Takeover defenses; hostile takeovers; legal framework; economy structure; frustrating actions; defensive actions; restructuring; greenmail; litigation; defense document; lobbying; white knight; white squire; profit forecasts; Brexit. (search for similar items in EconPapers)
JEL-codes: K20 K22 K23 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:ers:ijebaa:v:vi:y:2018:i:4:p:105-118

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