Home – New Forums Other discussions Can I find out anywhere if a company is under aquisition?

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    sydneych1c
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    Hi, I am a designer and I’ve had a licensing deal with a company a while, we are due to renew and they want to re-sign me for another 3 year term.

    But I’ve heard murmurs that this company in the process of being sold and actually under contract.

    So how do I find out if this rumour is true. I checked ASIC and nothing – I guess that won’t change until the sale has gone through but I’ve heard that there is a place to see that a company is under contract and wondering if anyone knows where it is?

    thanks

    #1203245
    akagrp
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    Hello

    If the company is private there is no place that you will be able to see this data, as they will not be required to file any documents with ASIC or Office of State Revenue until deal goes through, unless the business being sold needs to gain approval by the ACCC & ASIC to proceed.

    What are your concerns, if company gets sold?

    The other option is you can directly ask them, as if you ask and they advise no sale, yet a sale takes place that can be proven took place when question asked you may have ability to void contract but you will need to check with a lawyer on that as many variables affect this

    #1203246
    bb1
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    Definitely not a legal opinion, but maybe some legal person would say if I am off the mark, but if you are signing a contract with a company, legally the company needs to honour it, no matter who actually owns the company.

    As I said I have no legal knowledge, but if I ever bought a company I would assume all contracts would stand. Whats the expert view.

    #1203247
    Paul – FS Concierge
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    You could ask for a clause to be inserted around your concerns, ie, “In the event that XYZ company is sold, …”

    #1203248
    DavidChin
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    sydneych1c, post: 241023, member: 76979 wrote:
    Hi, I am a designer and I’ve had a licensing deal with a company a while, we are due to renew and they want to re-sign me for another 3 year term.

    But I’ve heard murmurs that this company in the process of being sold and actually under contract.

    It may be worth asking your licensing partner as part of your renewal negotiations. Selling a company may be through different methods (eg, asset sale, share sale), which may have different implications on you and your decision to renew the licence.

    Good luck with your discussions.

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