The big sleep
At the turn of the century City lawyers were relishing the prospect of a German M&A boom. Two years on with the economy flagging and the Takeover Code hitting some damaging hurdles, the outlook is not so rosy. Jan Harvey reports
OK, so it is a big deal. But the insolvency of KirchMedia, the largest corporate failure to hit Germany in decades, is not exactly what the top international City firms had in mind when they decided to pile into Germany. The collapse is being seen as a symbol of Germany’s current travails.
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