The power of the trustee on the mergers and acquisitions battlefield

In a roundtable discussion forum sponsored by Goldman Sachs, industry leaders discuss matters such as the role of the trustees, how sponsor covenants can be maintained during the takeover process and how pensioner savings can be safeguarded

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Life & Pensions - What is the role of pension fund trustees in takeover discussions?

Terry Monk - A fairly simple answer is that the role of the pension fund trustees is, at a very minimum, to strengthen or protect the position of members, and certainly not weaken the position of the members.

David Archer - The regulator is encouraging trustees to put themselves in the same position they would be if they were a bank lender, for example, or one of the senior unsecured creditors. In our experience

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