LGIM released a basic 4-phase governance framework for board oversight of M&A transactions: “A Guide to Mergers and Acquisitions - Board Oversight.” So-called “Stage” 1 - governance set-up - addresses director conflicts of interest, establishment of an independent oversight committee for large transactions, and appointment of independent advisors on a flat-fee basis.
Stage 3 - investor engagement – calls for engagement with the board chair and non-executive directors outside the presence of management and shareholder approval of all significant transactions.
Access additional resources on these Society pages: M&A, IPOs, Separations and Go-Private Transactions and Institutional Investors page »LGIM.
This post first appeared in the weekly Society Alert!