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Australia: Revised Guidance Note On Lock-Up Devices, Mark Mcnamara, Danielle Ireland-Piper
Australia: Revised Guidance Note On Lock-Up Devices, Mark Mcnamara, Danielle Ireland-Piper
Danielle Ireland-Piper
The Takeovers Panel in Australia has issued a final version of Guidance Note 7 on lock-up devices, says Baker & McKenzie. Essentially, GN7 states that while lock-up devices are not inappropriate per se, the panel is concerned to ensure that transactions take place in an efficient, competitive and informed market.