Wednesday 22 January 2014

UK: Rule 21.2 of the Takeover Code - practice statement published

The Takeover Panel has published a practice statement - number 27 - in which it clarifies the way in which the Panel Executive interprets and applies Rule 21.2 of the Takeover Code in relation to irrevocable commitments and letters of intent given by offeree company shareholders who are also directors of the offeree company in connection with an offer: see here (pdf).

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