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Bribery Act 'could have impact on M&A'
Experts believe activity surrounding mergers and acquisitions (M&A) in the UK is likely to be affected by the Bribery Act.
The new legislation, which received Royal Assent in April last year but was then delayed after the government launched a public consultation, is expected to place subsidiaries under increased scrutiny.
According to City AM, guidance due for publication today (March 30th) will make it clear that the act's definition of "associated persons" is intended to be broad.
As a result, companies involved in takeover deals will need to ensure they carry out thorough risk assessments on all subsidiaries, joint ventures and supply chain partners.
One source with knowledge of the guidance told the newspaper: "This could affect the traditional, devolved power model of UK business."
Earlier this week, PricewaterhouseCoopers reported that confidence in the global market for renewable energy M&A returned last year.
The firm's research showed that European deal volumes increased by 50 per cent in 2010, although overall values fell by over half to $13 billion (£8.1 billion).
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