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ALEX BRUMMER: Greed makes a comeback

The pandemic should have led to a kinder, gentler and fairer world of finance. This year began with Larry Fink, chief executive of £6.6 trillion investor Blackrock, extolling the virtues of better governance. Instead, the greed is good culture is back.  Executives working for quoted companies may feel hard done by the standards of instant billionaires created by initial public offerings, big fees at investment bankers and the returns made by the private equity barons. But that can be no excuse for taking rather than giving, and the excessive pay-outs being lavished.  The blame for fat-cat pay is often directed at flaccid pay committees and the cosy relationship with remuneration consultants drawn from Big Four accounting firms. 

ALEX BRUMMER: Greed makes a comeback

ALEX BRUMMER: Greed makes a comeback
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UK Public M&A Update — H1 2021 | Skadden, Arps, Slate, Meagher & Flom LLP

[co-author: Krishane Sri Rajkumar] In this update, we consider key statistics, trends, developments and highlights regarding U.K. public M&A transactions governed by the U.K. City Code on Takeovers and Mergers (the Takeover Code) that were announced during the first half (H1) of 2021. Key Statistics and Trends H1 2021 vs. H1 2020 The COVID-19 pandemic certainly had a significant impact on the volume of firm offers announced in H1 2020. However, a comparison of the number and size of deals in H2 2020 and H1 2021 against H1 2020, shows a steady return to pre-pandemic levels of activity, with 28 firm offers announced in H1 2021, compared to 26 offers announced in H2 2020 and 13 offers announced in H1 2020. The most popular offer structure continues to be a scheme of arrangement, accounting for 79% of the offers announced in H1 2021.

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