| Commentary

194.3 Unacceptable statements

| Commentary

194.3 Unacceptable statements

As a general rule, parties and their advisers must take care not to make statements which, while not factually inaccurate, may be misleading or create uncertainty. In particular, the offeror must not make a statement to the effect that it may improve its offer, or that it may make a change to the structure, conditionality or the non-financial terms of its offer, without committing itself to doing so and specifying the improvement or change. Parties to the offer and their advisers should consult the Panel on Takeovers and Mergers (Panel) if there is any doubt as to

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