UK Takeover Panel Decision Could Set Global Precedent on Bid Retractions

A U.K. Takeover Panel decision rejecting an attempt to retract its takeover bid for clothing chain Moss Bros due to COVID-19 is likely to a set a new precedent worldwide, according to lawyers close to the deal.

On May 19, 2020 the Takeover Panel concluded that Brigadier Acquisition “should not be permitted to invoke any of the relevant conditions at this time” to lapse its £22.6 million offer.

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