Takeover Response Checklist for Companies

This document is a checklist designed to assist companies in preparing for unsolicited takeover bids. It outlines the importance of takeover preparedness, emphasizing that failure to prepare can lead to adverse outcomes for companies. The checklist includes various sections detailing advance preparation steps, such as forming a response team, preparing communication instructions, and reviewing structural defenses. It also addresses the need for effective investor relations and maintaining regular contact with key stakeholders. The document further discusses specific measures to consider, including shareholder rights plans and structural defenses, as well as the importance of understanding regulatory implications. Additionally, it highlights the necessity of preparing the board of directors and the CEO for potential takeover approaches, ensuring that they are equipped to handle various types of bidder activity. Overall, the checklist serves as a comprehensive guide for companies to enhance their readiness for takeover situations.