| 释义 |
City Code on Takeovers and Mergers
A body of rules regulating those engaged in the conduct of takeovers and mergers of public companies. It is administered by the Panel on Takeovers and Mergers, including representatives from major financial and business institutions. The principal aim of the Code is to ensure that company members (rather than the directors) decide upon the merits of accepting a bid, that they are fully informed about what is going on, and that shareholders of the same class are treated equally in the event of a takeover or merger. Under the Companies Act 2006 a ruling by the Panel is, to the extent specified in the rules, and subject to any appeal or review, of binding effect (s 945). |