Cleary Gottlieb Partner Nick Rumsby Discusses Regulatory Intervention in UK Public M&A

Cleary Gottlieb partner Nick Rumsby shared his insights in the article “What’s Market Trends: Navigating Regulatory Intervention in Public M&A in 2026,” published by Practical Law Corporate.

Nick notes that “since the Panel’s 2023 guidance on invoking conditions, bidders and targets have increasingly given material regulatory clearance conditions prominent disclosure at the firm offer stage, together with an explanation of when the bidder intends to invoke them.”

On contractual commitments, he comments that “best endeavors undertakings on regulatory conditions are not new, but they are becoming an increasingly standard feature of co-operation agreements.” He adds that these undertakings “often provide comfort to a board that they have a contractual right to enforce.”

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