Introduction to The Takeover Code

Short course

In City Of London

£ 575 + VAT


  • Type

    Short course

  • Level


  • Location

    City of london

  • Duration

    1 Day

6 SRA CPD Hours

Discounts available for multiple participants:  3-4 participants: 15% discount per participant 5-6 participants: 20% discount per participant 7-8 participants: 25% discount per participant 9 or more participants: 30% discount per participant. Suitable for:



Start date

City Of London (London)
See map

Start date

On request

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  • Takeover code
  • Introduction

Teachers and trainers (1)

Former  Practitioner

Former Practitioner

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Course programme

Course review:

Participants will learn about how the Takeover Panel operates in practice and how to apply the six general principles. They will master the issues involved in approaching target companies, making announcements, giving independent advice and complying with share dealing restrictions.

They will also gain a strong understanding of voluntary, mandatory and partial offers as well as the principles of the bid timetable and the conduct of the parties during an offer period.

They will be able to advise clients on the circumstances when the Code is applicable, the relevance of the key rules of the Code, the application of the Code in practice and the documentation requirements of the Panel.

The course takes account of the changes announced in September 2011 where relevant.

Course Content:

Introduction to the Takeover Panel

  • Composition and role
  • Enforcement
  • Applicability of the Takeover Code
  • Prohibited dealings (including Rule 4)
  • Consideration to be offered (Rules 6 and 11)
  • Disclosure requirements (Rules 7,8 and 38)
  • Timing restrictions (Rule 5)
  • The acceptance condition (Rule 10)
  • Subjectivity and pre-conditions (Rule 13)
  • Partial offers (Rule 36)
  • Multiple classes of share capital (Rule 14)
  • Convertibles and warrants (Rule 15)
  • Special deals with favourable conditions (Rule 16)
  • Information (Rule 19)
  • Equality of information (Rule 20)
  • Restrictions on frustrating action (Rule 21)

The Six General Principles and their Application Key Code Definitions The Approach, Announcements and Independent Advice (Rules 1-3) Dealings and Restrictions on the Acquisition of Shares Mandatory Offers (Rule 9) Voluntary Offers The Competition Commission and the European Commission (including Rule 12) Provisions Applicable to all Offers Outline Bid Timetable (Rules 31 to 35) Conduct During the Offer

Profit Forecasts and Asset Valuations (Rules 28 and 29)

What our clients are saying about the course

“The trainer was very engaging & had many good case studies that were used to explain points”

“Did not assume much prior knowledge & explained basic financial concepts”

“Good examples were used throughout which made the rules much easier to absorb”

Introduction to The Takeover Code

£ 575 + VAT