Takeover Code—Rule 1—The approach
Takeover Code—Rule 1—The approach

The following Corporate guidance note provides comprehensive and up to date legal information covering:

  • Takeover Code—Rule 1—The approach
  • Brexit impact
  • Mini-index
  • Rule 1—Setting the scene
  • Rule 1—The approach
  • Rule 1—Related Code Rules, Notes and Appendices

This Resource Note outlines the main provisions of Rule 1 of The City Code on Takeovers and Mergers (Code), which deals with the requirement for an offeror (or its advisers) to notify a firm intention to make an offer in the first instance to the offeree board. It highlights relevant materials, commentary and guidance from the Panel on Takeovers and Mergers (Panel), as well as Lexis®PSL analysis and resources, to give practical guidance on the interpretation and application of Rule 1.

Brexit impact

In November 2018 the Panel published a consultation paper, PCP 2018/2, which proposed a number of changes to the Code