| Commentary

188.1 General

| Commentary

188 Dealings by the offeror

188.1 General

During the offer period, the offeror, and any persons acting in concert with it, must not sell any securities in the target company, except with the prior consent of the Panel on Takeovers and Mergers (Panel), and following 24 hours’ public notice that such sales might be made1. Sales may not be at less than the offer price. (This presupposes that the offer has been made and the offer price established.) After there has been an announcement that sales may be made, neither the offeror, nor persons acting in concert with it, may acquire

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial