City Code on Takeovers and Mergers


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City Code on Takeovers and Mergers

a body of principles and rules regulating the conduct of takeovers and mergers of public companies. While its provisions are not legally binding, contravention may result in the imposition of sanctions by the Stock Exchange.

The Panel on Takeovers and Mergers (The City Panel) is responsible for the operation of the Code.

References in periodicals archive ?
The UK-based Panel on Takeovers and Mergers has granted UK-based environmental data specialist Trucost a dispensation from certain requirements under the City Code on Takeovers and Mergers mainly related to making mandatory annoucements, the company said.
18 April 2016 - The UK-based Panel on Takeovers and Mergers has granted UK-based environmental data specialist Trucost a dispensation from certain requirements under the City Code on Takeovers and Mergers mainly related to making mandatory annoucements, the company said.
Under the UK City Code on Takeovers and Mergers (the Code), the new holding company or Deutsche Boerse are required, by no later than 5.
In England, takeovers are regulated by the City Code on Takeovers and Mergers (City Code or Code), which is interpreted and enforced by the Panel on Takeovers and Mergers (Takeover Panel or Panel), a self-regulatory body appointed by bodies representing different segments of the British financial community.
The Panel on Takeovers and Mergers is the regulatory body which administers the City Code on Takeovers and Mergers.
Because of that, the company said in a statement, it would be "seeking a waiver of the obligation required under Rule 9 of the City Code on Takeovers and Mergers, due to the existence of a concert party in the Galleon Group, which will come to hold in excess of 30 per cent of the issue-shared capital of Andaman.
They are responsible to a large degree in shaping the future direction of the company and ensuring the smooth progression of the P to P in compliance with the City Code on Takeovers and Mergers, the rule book which governs all takeovers of the publicly quoted UK companies.
8 and other relevant provisions of The City Code on Takeovers and Mergers ("City Code"), News Corp reserves the right to announce an offer or possible offer or make or participate in an offer or possible offer for BSkyB and/or take any other action which would otherwise be restricted under Rule 2.
Under the City Code on Takeovers and Mergers the company is now considered to be in an offer period.
Under the City Code on Takeovers and Mergers, the interested party has a deadline until 13 August to make an official offer for the target or announce that it is no longer interested.
Further, Rule 8 of the UK City Code on Takeovers and Mergers published and administered by the Takeover Panel have the above requirements are set out and in particular Rule 8.
Any proposal to be made to Enodis, and any potential offer by Middleby for Enodis, is subject to the UK City Code on Takeovers and Mergers (the "City Code").