Euromoney’s Expert Guides series has recently published a thought leadership piece discussing the Supreme Court of Bermuda’s experience dealing with hostile takeover litigation involving Bermuda (re)insurance companies.
The article explains that there has been an increase in M&A activity in recent years, a trend which various commentators expect to continue.
With that increase, there has also been an increase in hostile takeover bids, a number of which have resulted in shareholder litigation before the Bermuda courts.
As the Royal Gazette has separately reported recently, the Bermuda reinsurance market is “ripe” for more mergers, and that is the view of Fitch Ratings, amongst others: http://www.royalgazette.com/re-insurance/article/20160906/reinsurance-market-ripe-for-more-mergers
This would suggest that more hostile takeover litigation is likely to unfold before the Bermuda court in the next few years.
Whenever I hear the phrase M&A, I can’t but help think of Brett Easton Ellis’ American Psycho, and its reference to “Murders & Executions” – an apt phrase, bearing in mind the job losses and cost cutting exercises that usually follow a hostile takeover or merger.
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