Takeovers

At a time of heightened geopolitical tensions, the UK government’s tougher stance on the foreign takeover of strategic companies will face a critical test as ministers prepare to rule on the planned £2.8bn acquisition of defence specialist Ultra Electronics by a rival owned by a US private equity company.

A global boom in deals where private equity-backed consortia and managers make takeover bids for listed companies reflects a buoyant M&A market, ICAEW’s head of corporate finance says.

Government guidance on the circumstances that employees may be protected under the Transfer of Undertakings (Protection of Employment) regulations (TUPE) in the event of a business takeover or transfer.