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Darius Lewington, solicitor in the Lexis®PSL Corporate team, considers the latest public consultation by the Code Committee of the Takeover Panel (the Panel) regarding the communication and distribution of information and opinions during an offer.
setting out proposed amendments to the Takeover Code (the Code) with regard to the communication and distribution of information and opinions during an offer by, or on behalf of, an offeror or offeree.
The Code Committee considers that the Code should provide greater clarity as to how the requirement for information to be made equally available to all offeree shareholders should be satisfied.The Code Committee is therefore proposing that, where any material new information or significant new opinions relating to an offer or a party to an offer are:
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