Rule 2.4 (possible offer) announcement—offeror—prior to approach
Rule 2.4 (possible offer) announcement—offeror—prior to approach

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

  • Rule 2.4 (possible offer) announcement—offeror—prior to approach

Rule 2.4 (possible offer) announcement—offeror—prior to approach

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY) IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE CODE) AND DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE. THERE CAN BE NO CERTAINTY THAT AN OFFER WILL BE MADE[, EVEN IF THE PRE-CONDITIONS REFERRED TO BELOW ARE SATISFIED OR WAIVED], NOR AS TO THE TERMS ON WHICH ANY OFFER MIGHT BE MADE.

[insert date]

For immediate release

Insert FULL NAME OF POTENTIAL OFFEROR (the Company)

Statement concerning [insert full name of potential offeree] ([Offeree])

The Company notes the recent speculation concerning a possible offer by it for [insert full name of potential offeree]. The Company confirms that it is in the preliminary stages of considering a possible offer for the share capital of [Offeree]. There can be no certainty that an offer will be forthcoming or of the terms on which any offer may be made.

[[Insert, if appropriate, the indicative terms of any possible offer under discussion]]

The Company reserves the right to make an offer on less favourable terms than those set out in this announcement

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