UK Takeover Code Changes Will Affect Management Incentives

Law firm Weil, Gotshal & Manges has issued its monthly private equity alert, this time discussing how recent changes to the UK Takeover Code will affect management incentives:

On January 25, 201 0 changes to the UK Takeover Code came into effect which affect the treatment and disclosure of management incentive arrangements on UK take privates, increasing the need for disclosure of management arrangements and requiring private equity houses to take greater care over any early stage discussions with incumbent management teams. The new rules introduced a new requirement into take privates: disclosure/approval of arrangements where discussions have reached an advanced stage, not only of concluded arrangements.

 Download the entire article here