Commentary

195 Responsibilities under the common law and the Financial Services and Markets Act

COMPANIES vol 11 acquisitions, mergers, demergers
| Commentary

195 Responsibilities under the common law and the Financial Services and Markets Act

| Commentary

195 Responsibilities under the common law and the Financial Services and Markets Act

In addition to their responsibilities under the City Code on Takeovers and Mergers, directors of the offeror and offeree companies may find themselves liable for inaccuracies in the offer document and other documents circulated during the offer period under the common law or under the Financial Services and Markets Act 2000.

At common law, a director may be potentially liable in tort for negligent misstatement if a person has suffered loss as a result of relying upon any untrue statements contained in the offer or other document. In

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