Takeover Code—Rule 29—Asset valuations

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

  • Takeover Code—Rule 29—Asset valuations
  • Mini-index
  • Rule 29—Setting the scene
  • Rule 29.1(a)
  • Rules 29.1(b) and 29.1(c)
  • Rule 29.1(d)
  • Rule 29.2—Requirement for a valuation report
  • Rule 29.3—The valuer
  • Rule 29.8—Valuation of another party’s assets
  • Rule 29—Related Code Rules, Notes and Appendices

Takeover Code—Rule 29—Asset valuations

This Resource Note outlines the main provisions of Rule 29 of The City Code on Takeovers and Mergers (Code), which deals with the requirements for asset valuations. It highlights relevant materials, commentary and guidance from the Panel, as well as Lexis®PSL analysis and resources, to give practical guidance on the interpretation and application of Rule 29. 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 29—Setting the scene

Rule 29.1—Valuations to be reported on if given in connection with an offer

Rule 29.2—Basis of valuation

Rule 29—Related Code Rules, Notes and Appendices

Rule 29—Setting the scene

Link to Rule 29 and Notes on Rule 29Code
What it coversRule 29 deals with the requirements for asset valuations given in connection with an offer.
ApplicationRule 29 applies to all offers.
Main PSL resourcesAsset valuations on takeover transactions
Profit forecasts and quantified financial benefits statements
Provision of information during an offer
Offeror

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