Short notice due diligence
Our client is a major overseas multinational company who were considering the acquisition of a FTSE100 company with significant defined benefit pension obligations in the UK (circa £2bn).
Barnett Waddingham advice
As with the majority of transactional work, our due diligence needed to be produced at very short notice and delivered to both the client and their investment banks concurrently.
One unusual aspect of our role was in assisting the potential purchaser to pre-agree its contribution requirements to the pension scheme with the trustees - effectively pre-empting the requirements of the new takeover code.