Ashurst advises Moss Bros on Takeover Panel Ruling

Brigadier lodged a formal submission with the Panel Executive on 22 April 2020 setting out the reasons why it believed that it should be permitted to certain conditions to its offer on account of the impact on Moss Bros of the Covid-19 pandemic and related UK Government measures.  

Having considered further submissions and representations made by and on behalf of Moss Bros and Brigadier, the Panel Executive has ruled that Brigadier has not established that the circumstances which give rise to its right to invoke the relevant conditions are of material significance to it in the context of its offer as required by Rule 13.5(a) of the Takeover Code and, therefore, that Brigadier should not be permitted to invoke any of the relevant conditions at this time. Brigadier has been given a short period of time in which to decide whether to request a review of the Panel Executive’s ruling by the Hearings Committee of the Takeover Panel. 

The Ashurst team advising Moss Bros is being led by Tom Mercer and Tom Connor with senior associates Harry Thimont and Tim West and associate Millie Gibbs. CMS Cameron McKenna Nabarro Olswang LLP is also advising Moss Bros in relation to the offer.