Takeover Code—Appendix 5—Tender offers

Copyright © 2025 LexisNexis
Published by a LexisNexis Corporate expert
Practice notes

Takeover Code—Appendix 5—Tender offers

Copyright © 2025 LexisNexis

Published by a LexisNexis Corporate expert

Practice notes
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This Resource Note outlines the main provisions of Appendix 5 to The City Code on takeovers and Mergers (Code), which deals with tender offers. It highlights relevant materials, commentary and guidance from the panel on Takeovers and Mergers (Panel), as well as Lexis+® UK analysis and resources, to give practical guidance on the interpretation and application of Appendix 5.

Materials covered in this Resource Note include:

  1. •

    Practice Statements issued by the Panel Executive (the body that carries out the day-to-day work of takeover supervision and regulation) (Executive) to provide informal guidance as to how the Executive normally interprets and applies the Code

  2. •

    Panel Statements published by the Panel (P/S) and Panel Instruments

  3. •

    Public Consultation Papers (PCP) and Response Statements (RS) published by the Code Committee

  4. •

    Annual Reports published by the Panel containing discussion of general issues (Annual Reports)

  5. •

    relevant Lexis+® UK resources

Appendix 5—Setting the scene

Takeover Code—Appendix 5—Tender offersCode and Lexis+® UK resources
What it coversAppendix 5 deals with tender offers.
ApplicationAppendix 5 applies to all
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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Takeover definition
What does Takeover mean?

This refers to the acquisition of a public company.

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