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Herbert Smith Freehills, in conjunction with the Ross Parsons Centre of Commercial, Corporate and Taxation Law at the University of Sydney, has published Towns Under Siege – a major new book looking at developments in the law and practice of Australian takeovers and schemes.

Towns Under Siege, edited by Herbert Smith Freehills partner Tony Damian and senior associate Clayton James features contributions from the Takeovers Panel, ASIC and practitioners from Herbert Smith Freehills.

Tony Damian said: “The law and policy framework applying to takeovers in Australia is incredibly dynamic. Towns Under Siege seeks to both identify key developments in this framework and to provide practical insights on dealing with these changes”.

The book addresses a wide range of topical issues in takeovers including the role of the target board in responding to a hostile bid, shareholder activism, class actions in takeovers and the new foreign investment regime.

“Directors have their skills tested during a hostile takeover. They have to navigate a motivated bidder, anxious shareholders and various regulators, all in a very much public spotlight” said Mr Damian.

Clayton James added: “A well prepared board can really make a difference to the outcome in a hostile bid.”

The book is over 600 pages and contains a foreword by Mr David Gonski AC.

Herbert Smith Freehills and the University of Sydney have had a close collaboration in relation to the Ross Parsons monograph series. The first edition of Schemes, Takeovers and Himalayan Peaks, by partners Tony Damian and Andrew Rich, was the founding work of the series in 2004.

Towns Under Siege was officially launched by Mr Gonski at a function in Sydney on 19 May 2016. Copies of the book can be purchased from the University of Sydney here.

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Tony Damian

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Tony Damian