Public Takeovers

Public takeovers of listed companies take place in the full gaze of the public, unlike most private M&A transactions.
For the buyer, it is important to make sure of the offer’s success, in order that the desired holding can be acquired at an appropriate price. The integration of the target company into the buyer’s group needs to proceed smoothly and be coordinated with any restructuring measures that may be required after the takeover process has been completed.

From the target company’s perspective, the focus is on complying with corporate responsibilities and the disclosure requirements of capital market law. This applies especially to the crucial issue of whether the management is in favour of the attempted takeover (friendly takeover) or opposed to it (hostile takeover) the strategies that need to be considered to resist a takeover.

The shareholders involved must decide whether to transfer their holding to the buyer within or outside the takeover process or retain it, and want to ensure that their interests are considered before, during, and after the takeover process.