Monday 14 February 2022

UK: Takeover Panel consultation - anonymous order book dealings

The Code Committee of the Takeover Panel has published a consultation paper in which it seeks views on the proposal to remove from the Code the restriction, found in rule 4.2(b), on an offeror purchasing shares in the offeree company through an anonymous order book: see here (pdf). The Committee believes the costs imposed by the restriction on share purchasing operations are disproportionate to the benefits.

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