Introduces tighter takeover rules
19 Sep 2011
The United Kingdom introduced tighter takeover rules on 19 September 2011. The new rules include the banning of "break fees"—penalties imposed on parties for abandoning an agreed deal in favour of a rival offer—which could result in fewer takeovers. The revisions to the takeover code also stipulate that bidders be named as soon as they show an interest in a target company, and limit the "put up or shut up" time for speculative bids to 28 days.
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Entry and establishment (Approval and admission)
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