Commentary

Section 215 Effect of Section 979 notice

COMPANIES vol 11 acquisitions, mergers, demergers
| Commentary

Section 215 Effect of Section 979 notice

| Commentary

215 Effect of Section 979 notice

At the end of six weeks from the date of a Section 979 notice under the Companies Act 2006, the offeror must immediately send a copy of the notice to the target company and pay or transfer to that company the consideration for all the shares to which the notice relates1. Where there is a choice of consideration, the offeror must pay the consideration which the shareholder has expressly chosen or, in the absence of any indication, the consideration which the original notice stated to be the default option. If the shareholder has been

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