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if it is the shares of the company that are
6th September 2007, Page 53
6th September 2007
Page 53
Page 53, 6th September 2007
— if it is the shares of the company that are
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being acquired, the employer—which is the company—will not change and the employees will continue to be employed. If assets are acquired then if there is a transfer of an 'economic entity' the TUPE regulations will apply and the employment contracts of the relevant employees will be automatically transferred to you. Employees can be made redundant, but only on technical, organisational or economic grounds. If this is envisaged, great care needs to be taken. As part of the duediligence exercise an investigation should be made into the position of staff — for example, whether key staff will remain after the takeover and whether there are any existing or potential claims.