CLAW3206 Lecture 6: Week 6 Strategic Planning
30 Jul 2018
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Takeover team members: key executive of the bidder: chairman, chief executive officer / managing director, chief. Financial officer, company secretary, general counsel (in-house lawyer) Investment banker: assists in coordinator the members of the bidder"s team, evaluates the bid from the bidder"s perspective, determines the bid price, obtains / provides finance for the bid, advises on takeover strategies. The bidder should investigate all factors impacting upon the value of the target to the bidder and the success of the bid. This will involve detailed examination of: all publicly available information (asic, asx), all information made available by the target (friendly takeover); and, stockbrokers" research reports. Documents essential to be examined include the target"s constitution and documents lodged with. Where information is made available by the target, the bidder must ensure that full disclosure is made in the takeover documentation so as to comply with the statutory disclosure requirements and avoid allegations that the bidder has inside information.
