Framework agreements: a bridge to completion | Practical Law

Framework agreements: a bridge to completion | Practical Law

Although historically in the UK there has often been no separate agreement between a bidder and a target company in relation to a recommended offer, other than that set out in the initial formal announcement of the transaction, it is now increasingly common in recommended public takeovers for targets to enter into framework agreements with bidders immediately before the announcement of the offer, particularly where these transactions are implemented by schemes of arrangement.

Framework agreements: a bridge to completion

Practical Law UK Legal Update 8-201-0654 (Approx. 4 pages)

Framework agreements: a bridge to completion

by Author: Mark Wippell and George Knighton, Allen & Overy LLP.
Published on 22 Jul 2005United Kingdom
Although historically in the UK there has often been no separate agreement between a bidder and a target company in relation to a recommended offer, other than that set out in the initial formal announcement of the transaction, it is now increasingly common in recommended public takeovers for targets to enter into framework agreements with bidders immediately before the announcement of the offer, particularly where these transactions are implemented by schemes of arrangement.