Takeover Code—Rule 23—General obligations as to information
Takeover Code—Rule 23—General obligations as to information

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

  • Takeover Code—Rule 23—General obligations as to information
  • Mini-index
  • Rule 23—Setting the scene
  • Rule 23.1—Sufficient information
  • Rule 23.2
  • Rule 23—Related Code Rules, Notes and Appendices

Takeover Code—Rule 23—General obligations as to information

This Resource Note outlines the main provisions of Rule 23 of The City Code on Takeovers and Mergers (Code), which deals with the general obligations of the offeror and the offeree board in relation to documents, announcements and other information sent, published or made available during the course of an offer. 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 23.

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®PSL and LexisLibrary resources

Mini-index

Rule 23—Setting the scene

Rule 23.1—Sufficient information

Rule 23—Related Code Rules, Notes and Appendices

Rule 23—Setting the scene

Link to Rule 23 and Notes on Rule 23Code
What it coversRule 23 deals with the general obligations of the offeror and the offeree boards in relation to documents, announcements

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