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UK Takeover Code: Clarification of Rules Relating to Irrevocable Commitments and Letters of Intent by Target Company Directors



by Richard May
Fried, Frank, Harris, Shriver & Jacobson (London) LLP - London Office

January 23, 2014

Previously published on January 21, 2014

On 17 January 2014, the UK Takeover Panel published Practice Statement No. 27 relating to how the prohibition on “offer-related arrangements” applies to irrevocable commitments and letters of intent given by target company shareholders who are also directors of the target company.


 

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