Images are still loading please cancel your preview and try again shortly.
Accessibility tools
Skip to main content
Linklaters
  • Knowledge
  • Publications
  • Takeover Panel clarifies its approach to “Phase 2 reference” offer conditions

Author: Joanna Healey

Takeover Panel clarifies its approach to “Phase 2 reference” offer conditions

The Takeover Panel has updated Practice Statement No. 5, which deals with invoking offer conditions. The main updates are to clarify the Takeover Panel’s approach to the interpretation and invocation of “phase 2” reference (or similar) conditions as well as its approach to invoking conditions more generally.

The updated Practice Statement No. 5 comes into effect immediately.

x Find a Lawyer