Can one use privity of contract as a defence to avoid takeover liabilities?

yup, same as a mail in rebate. idiots don't send it in.....if you lost your own contract you ain't gonna get paid. let me tell you what is implied in every contract...if it is not a written contract one of the parties to the contract is an idiot. if I asked you what was written in your contract would you answer be "I dunno". god I hate giving out free advice. you're lucky I am in a good mood.