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Our Legal and Corporate Finance Expert Groups contributed to our response to 'PCP 2014/1 – Consultation Paper issued by the Code Committee of the Panel: Miscellaneous Amendments to the Takeover Code'. We supported that the proposals will result in a greater degree of certainty and did not consider that these proposals result in any significant additional burden either for the small and mid-size company offeree or offeror. We commented on the questions regarding the Proposed Auction Procedure and noted that, where one of the competing offerors is a small and mid-size quoted company, it may be potentially at a disadvantage in comparison with larger offerors.

Click here to download the response (pdf)

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