Clean team agreements in Takeover Code Offers

The Takeover Panel has published a new practice statement (Practice Statement No.30) which codifies the practice of ring-fencing commercially sensitive information provided to bidders via the use of so-called "clean teams" for the purpose of obtaining regulatory consents while complying with antitrust rules which restrict the disclosure of commercially sensitive information between competitors.

A full briefing is available to subscribers on the Linklaters Knowledge Portal.