Reverse takeover

A reverse takeover is the acquisition of a listed company by a private company.

Reverse complexity

"The reverse takeover created complexity from an M&A and listing perspective.

It required us to issue the prospectus when we agreed the merger, but then we had to essentially delist and relist with a second prospectus when the transaction completed.

Being large competitors, there was obviously a competition authority process as well.

That went through a Phase 1 CMA process [a local regional-based decision] that was successful and the transaction completed early last year."

Adam Richford FCA FCT, Group Treasurer, Renewi, The Treasurer, August 2018, p17.

See also

• Cash shell
• CMA
• Competition
• De-listing
• Listed company
• Listing
• M&A
• Merger
• Private company
• Prospectus
• Re-listing
• Shell company
• SPAC
• Takeover offer