template

Standard Acceptance Condition For Takeover Bid Offer Document

by
Genie Team
Genie Team
Oct, 10 2023

When to use this template

This legal template, Standard Acceptance Condition for Takeover Bid Offer Document under UK law, is a comprehensive document designed to outline the conditions and requirements for accepting a takeover bid offer made by a company under UK jurisdiction.

The template covers key aspects related to the offer, including the acceptance process, terms and conditions, and legal obligations. It aims to provide a standardized framework for both the acquiring and target companies, ensuring clarity and consistency in the takeover process.

Key components of this legal template may include provisions related to the time period within which the offer remains open, the minimum level of acceptance required for the bid to be successful, and any relevant regulatory approvals that need to be obtained.

Additionally, the template may outline the responsibilities and obligations of the acquiring company, ensuring compliance with all applicable laws and regulations. It may also address potential contingencies and stipulate the actions to be taken in the event of a change in circumstances, such as a competing offer or breach of terms.

Overall, this legal template serves as a vital tool in the takeover bid process, providing a standardized framework to ensure transparency, fairness, and legal compliance for all parties involved. It aims to protect the interests of both the acquiring and target companies, as well as their respective shareholders, by establishing clear guidelines for the acceptance of takeover bid offers under UK law.

Key issues covered in this template

  • Minimum acceptances
  • Target shares
  • Valid acceptances
  • Voting rights
  • N/A

What to watch out for

  • The specimen form of acceptance condition contained in the offer document sent out as part of a takeover bid

  • The 12th edition of the Takeover Code

43

Used by

Author

Genie Team

Genie Team

@genieteam
Genie AI

The Genie Team consists of lawyers and paralegals. Our aim is to open source the law and provide high quality, regularly reviewed legal documents.

A
O
N
J
F
A
v
M
v
A
B
N
+8 more
Education
11%
Technology
9%
Finance
8%
Legal Services
7%
Agriculture, Forestry and Fishing
6%
Consultancy
5%
Construction
5%
Media
5%
Other
5%
Retail
4%
Real Estate
4%
Consumer, Public & Health Services
4%
Transport
4%
Public Administration
4%
Sport & Entertainment
4%
Energy
3%
Insurance
3%
Manufacturing
3%
Wholesale
3%
Mining
3%

Additional information

Business categories

Business activities

Relevant sectors

Finance

Relevant company sizes

1 - 3

20 - 49

250 - 999

4 - 19

50 - 249

1000 +

Governing law

England and Wales

Language

English UK

Gender neutral

Yes