Australia: Revised guidance note on lock-up devices

Mark McNamara
Danielle Ireland-Piper

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Published Version.

McNamara, M. and Ireland-Piper, D. (2005). Australia: Revised guidance note on lock-up devices. Published 24 May 2005 at http://www.altassets.net/private-equity-knowledge-bank/country-focus/article/nz6849.html.

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© Copyright Baker & McKenzie, 2005

Abstract

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.