Takeover proposals set to force corporates to disclose legal fees
Corporate law firms could face increasing scrutiny of their M&A fees as part of proposals by the UK Takeover Code Committee to overhaul merger rules and protect target companies from hostile bids. The proposals - published yesterday (21 October) in response to a consultation carried out after Kraft's controversial takeover of Cadbury - include a suggestion that corporates should disclose a breakdown of estimated fees payable to advisers. This would include fees payable to law firms as well as financial advisers, accountants and PR advisers.
Corporate law firms could face increasing scrutiny of their M&A fees as part of proposals by the UK Takeover Code Committee to overhaul merger rules and protect target companies from hostile bids.
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