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GLOSSARY
Takeover Code or Code definition
Published by a LexisNexis Corporate expert
What does Takeover Code or Code mean?
The City Code on takeovers and Mergers, which has been developed since 1968 to reflect the collective opinion of those professionally involved in the field of takeovers as to appropriate business standards and as to how fairness to shareholders and an orderly framework for takeovers can be achieved. Following the implementation of the Takeovers Directive (2004/25/EC) by the CA 2006, Part 28, the rules set out in the Takeover Code have a statutory basis in relation to the United Kingdom. The Takeover Panel issues and administers the Takeover Code.
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