RE: Re offer11 Jul 2024 22:42
From this is money: youshould never underestimate the determination of Barclays, Goldman Sachs and other investment bankers advising the IDS, or the bidding banks led by JP Morgan, to get the deal done and burnish revenues and bonuses.
Whatever the commitments made in the course of a takeover, they become much harder to enforce once a company has vanished from the public markets.
In the same way Ofwat has never fully managed to lay a glove on Thames Water owners, so Ofcom will face a mammoth task of ensuring the preservation of the Universal Service Obligation once ownership has passed offshore.
Similarly, the fate of the 112,000-strong workforce will be hard to police.