Author: Joanna Healey

UK Takeover Code Changes from 5 July 2021

The Takeover Panel has published changes to the Takeover Code which include significant changes to the offer condition regime, as well as to the contractual offer timetable.

The changes to the contractual offer timetable aim to (a) modernise the offer timetable by accommodating better the potentially lengthy timeframes required to satisfy the conditions relating to official authorisations and regulatory clearances to which many offers are now subject and (b) aligning the contractual offer timetable more closely with that seen in schemes or arrangement.