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10 January 2008
Issue: 7304 / Categories: Legal News , Company , Banking , Commercial
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SAVVY SCHEME

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Commercial

The number of public company takeovers conducted as schemes of arrangement has more than trebled in the last five years—saving bidders a fortune in stamp duty, says City law firm Trowers & Hamlins. Last year, according to the Takeover Panel, of a total of 144 bids subject to the Takeover Code, 33% (48) were schemes of arrangement. This compares to 10% in 2002. Trowers & Hamlins partner, Andrew Watkins, says such a scheme is attractive to bidders since only 75% of shareholders (by value) and a simple majority (in number) have to agree for the bidder to take 100% control of the company.

Issue: 7304 / Categories: Legal News , Company , Banking , Commercial
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MOVERS & SHAKERS

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NLJ Career Profile: Nikki Bowker, Devonshires

NLJ Career Profile: Nikki Bowker, Devonshires

Nikki Bowker, head of litigation and dispute resolution at Devonshires, on career resilience, diversity in law and channelling Elle Woods when the pressure is on

Ellisons—Sarah Osborne

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Leasehold enfranchisement specialist joins residential property team

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Firm strengthens commercial team in Manchester with partner appointment

NEWS
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