Point in time view as at 03/10/2022.
Companies Act 2006, Paragraph 7 is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
[F17.(1)Rules must ensure that a person (“P”) is required to make a takeover bid (“a mandatory takeover bid”) where—U.K.
(a)P, or any person acting in concert with P, has acquired securities in a company, and
(b)the acquired securities, when added to any existing securities held by P or by persons acting in concert with P, directly or indirectly give P control of that company.
(2)Rules must ensure that the mandatory takeover bid must be addressed at the earliest opportunity to all of the holders of those securities for all their holdings at the equitable price.
(3)Rules must ensure that where control has been acquired following a voluntary takeover bid to all the holders of securities for all their holdings, the obligation referred to in sub-paragraph (1) to make a mandatory takeover bid no longer applies.]
Textual Amendments
F1Sch. 1C inserted (31.12.2020) by The Takeovers (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/217), reg. 1, Sch.; 2020 c. 1, Sch. 5 para. 1(1)
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