Falling foul of the name game
Hostile takeover printing farce, Dentons enjoys good karma, buy-out sector braces itself and M&A table shows real leaders
Many corporate lawyers will have had a snigger at the misfortune faced by Photobition and its advisers, including Pritchard Englefield, during the printing company’s on-going £83m hostile bid for digital imaging company Wace. Photobition first had to tell shareholders that the code names – so beloved of financial advisers and others – for the two companies, ‘Pyrotechnic’ and ‘Wild’, had, because of printing problems, been mistakenly included in parts of the offer document. The takeover panel then told the company to issue a five-page correction to clarify graphs in the offer document. But given the ever-increasing size and complexity of these documents and the time pressures involved in bids, those same corporate lawyers will be thinking ‘There but for the grace of God, go I’.
This premium content is reserved for
Legal Week Subscribers.
Subscribe today and get 10% off.
A PREMIUM SUBSCRIPTION PROVIDES:
- Trusted insight, news and analysis from the UK and across the globe
- Connections to senior business lawyers within the leading law firms and legal departments
- Unique access to ALM's unrivalled, market-leading reporting in the US and Asia and cutting-edge research, including Legal Week's UK Top 50 and Global 100 rankings
- The Legal Week Daily News Alert, Editor's Highlights, and Breaking News digital newsletters and more, plus a choice of over 70 ALM newsletters
- Optimized access on all of your devices: desktop, tablet and mobile
- Complete access to the site's full archive of more than 56,000 articles
Already have an account? Sign In Now
For enterprise-wide or corporate enquiries, please contact Paul Reeves on Preeves@alm.com or call on +44 (0) 203 875 0651