In the latest episode of our latest Herbert Smith Freehills UK public M&A podcast series, we discuss competing takeover offers. We have seen a significant uptick in competitive situations in recent months – we saw just one target receive firm competing offers in 2023, but have already seen four in the first four months of 2024. In this episode, we discuss:

• Why we are seeing more competitive situations

• How the put up or shut up (PUSU) deadline works

• What happens if one or both bidders need regulatory clearance and

• How competitive situations get resolved.

Speakers Mark Bardell, Robert Moore and Antonia Kirkby