It’s over a week since Haynes Publishing Group put itself up for sale, as detailed in an earlier post, and I wanted to discuss some elements of the formal sales process. Haynes decided to solicit offers for the company through the formal sale process framework as set out in the UK’s Takeover Code. “It provides some flexibility to offeree boards in managing an offer process where they have decided the company should be sold,” says Paul Arathoon, a partner with lawyers Charles Russell Speechlys.
