Bidders in the UK public M&A market have become increasingly willing to turn to more aggressive tactics, with bear hug announcements making a notable return. In the latest podcast, Jade, Tom and Harry explore what a bear hug is and why a bidder might use one to bring a reluctant target board to the table. Drawing on this year's deals, the team considers why some bear hugs have led to recommended deals while others have ended in hostile offers or bidders being timed out. Finally, they share practical advice for bidders and target boards alike.

The episode is intended to sit alongside, and complement, our quarterly publication which is available on our website. The publication looks at key highlights and market developments in the second quarter, as well as relevant legal and regulatory developments. The publication also includes tables summarizing the key features of firm offer announcements made during the quarter.

To listen to this and to subscribe to future episodes in our Takeover Talks miniseries search for “Ashurst Perkins Coie Legal Outlook” on Apple Podcasts, Spotify, or your favourite podcast player. You can also find out more about the full range of Ashurst Perkins Coie podcasts at ashurstperkinscoie.com/en/podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.