Bid Defence & Optimisation

Company performance has diverged as winners and losers have emerged through the recent economic turbulence. Whilst the economic outlook improves, markets and sectors are recovering at different rates, and long term values may be perceived to be lower in certain sectors driving the potential for hostile M&A.

Operational improvements or successful management strategies are now not universally matched by current valuations. Differences between buyers' and sellers' expectations, as well as who should capture value from the tough decisions taken, are creating a more hostile M&A environment.

There is never enough time to respond to an unexpected or unwelcome approach. Could you defend your financial and operational track record, your accounting policies and your performance against market expectations and your peer group?

What we do

We have a proven track record of helping clients in such circumstances. We can help develop a robust response and ensure valuation is maximised in the event of a takeover bid.

We can help you:

  • Review independently your readiness to defend a bid;
  • Identify and substantiate appropriate bid defence themes;
  • Prepare and report information in line with Takeover Code requirements;
  • Support senior management through the process; and
  • Optimise the value of standalone operational improvement programmes.

Rule 3 advice

We have a wealth of experience acting as lead advisor in UK public offers having led more than 65 public offers in recent years. We are well placed to provide financial advice (Rule 3 advice) to mid and small cap public companies in considering the threat of a hostile bid, responding to an unsolicited offer, or actively seeking purchasers or investors.

For further information please contact Maxine Saunders or Jon Hughes, or call 020 7936 3000.