City Code on Takeovers and Mergers

This is the up-to-date version of the Takeover Code from 4 August 2022.

The City Code on Takeovers and Mergers contain guidance for traders and financial service practitioners on the Takeover Panel. This rulebook is updated by CCTM notices and are updated frequently and contains an archive of these notices.

The Takeover Panel would like to draw your attention to the terms and conditions of use in addition to standard LexisNexis General Terms and Conditions for the LNB service:

The Takeover Code and other Takeover Panel documentation reproduced on this service are reproduced with the permission of the Takeover Panel. The Takeover Panel does not accept responsibility for the accuracy of the copies of the Takeover Code and the other Takeover Panel documentation published on this service.

The information contained on this service is not intended to be, nor should it be treated as such by any person, a comprehensive collection of all documentation relating to the Takeover Panel which may be relevant in connection with any individual situation. Parties must not treat the information available on this service as a substitute for seeking and obtaining specific advice concerning individual situations. When there is any doubt whatsoever as to whether a proposed course of action or conduct is in accordance with the General Principles or Rules contained in the Takeover Code, parties or their advisers are strongly advised to consult the Panel Executive in advance.

In addition the Takeover Panel have stipulated the following terms and conditions when using LNB download functionality:

Permission is granted to print one copy of this document to allow it to be read in hard copy format rather than on-line. All other rights are reserved; you may not otherwise copy it and under no circumstances may you publish, distribute or otherwise disseminate copies of it.