Immediate actions – dos and don’ts
Your basic objective when dealing with any unsolicited approach is to minimise information disclosed and ascertain the bidder’s intentions.
Referring to your company’s defence manual as soon as possible should help ensure you take all key steps from the outset.
In particular, following any initial approach, establish a defence committee with board authority and arrange a meeting as soon as possible.
The key dos and don’ts in dealing with any unsolicited approach initially are set out below.
Do
Any individual approached by a potential bidder should:
- listen but say as little as possible
- respond as briefly and neutrally as possible
- determine as soon as possible who needs to know what, when within your company
- ensure all sensitive information is kept on a strictly "need-to-know" basis and make sure that anyone privy to relevant information treats it as highly sensitive and secret
Don’t
Any individual approached by a potential bidder should not:
- respond to any suggestions/implications made by the potential bidder
- appear to conduct initial approach discussions on a friendly basis or agree/commit to any future meetings/timeframes
- disclose any personal/logistical details about board members or senior management
- communicate any information externally before the board or defence committee has determined your company’s response
