The Competitive Dialogue Working Group is
co-chaired by John Houlden of Burges Salmon LLP and David McGowan
of Maclay Murray & Spens LLP. The group is currently
considering a number of difficult issues regarding the procedure
including: when use of the competitive dialogue is appropriate; the
degree of bid maturity required at the close of dialogue; and to
what extent changes to bids are permitted between close of the
dialogue and financial close. There are no immediate plans to
publish any material resulting from these deliberations, but the
group intends to liaise further with a number of interested third
parties regarding these and other issues.
The group hopes to complete the initial phase
of its work by the end of November 2010.
Anyone wishing to become involved should
contact David McGowan: david.mcgowan@mms.co.uk