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The Takeover Code
The Takeover Code
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  • Acceleration statement
  • Acting in concert
  • Business day
  • Cash acquisitions
  • Cash offeror
  • Close relatives
  • Connected adviser
  • Connected fund manager and connected principal trader
  • Control
  • Dates, periods of time and London time
  • Day 14
  • Day 21
  • Day 39
  • Day 46
  • Day 53
  • Day 60
  • Dealings
  • Derivative
  • Directors
  • Electronic form
  • Employee representative
  • Exempt fund manager
  • Exempt principal trader
  • FCA Handbook
  • Fund manager
  • Hard copy form
  • Interests in securities
  • Irrevocable commitments and letters of intent
  • Material official authorisation or regulatory clearance
  • Offer
  • Offeree company
  • Offeror
  • Offer period
  • Official List
  • Ordinary course profit forecast
  • Parties to the offer
  • Pension scheme
  • Person with information rights
  • Post-offer intention statement
  • Post-offer undertaking
  • Principal trader
  • Profit estimate
  • Profit forecast
  • Quantified financial benefits statement
  • Recognised intermediary
  • Recognised investment exchange
  • Regulatory information service or RIS
  • Relevant securities
  • Reverse takeover
  • Scheme of arrangement or scheme
  • Securities exchange offer
  • Securities exchange offeror
  • Shares or securities
  • Treasury shares
  • UK multilateral trading facility or UK MTF
  • UK regulated market
  • Unconditional date
  • Voting rights
  • Website notification
  • Note on Definitions
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Fourteenth edition
11 December 2023

Updated
11 December 2023

Timeline and revision history

You are viewing the Code as at 11/12/2023
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Alternative versions

  1. 11/12/2023

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Cash offeror

An offeror (or potential offeror) which has announced, or in respect of which the offeree company has announced, that its offer is, or is likely to be, solely in cash. A non-convertible debt instrument will normally be treated as cash.

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