Wednesday 13 February 2019

UK: The Takeovers (Amendment) (EU Exit) Regulations 2019

The Takeovers (Amendment) (EU Exit) Regulations 2019 were laid before Parliament earlier this week and come into force on exit day: see here or here (pdf). Their purpose, to quote directly from the accompanying explanatory memorandum (here, pdf), is to "...amend Part 28 of the Companies Act 2006 (the Act) to enable the domestic takeovers regime to operate effectively on a freestanding basis outside the EU framework. Shareholders should continue to receive the protection of takeover regulation that ensures, so far as possible, fair treatment during a takeover bid".

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