Financing an offer for a public company: the certain funds requirement | Practical Law

Financing an offer for a public company: the certain funds requirement | Practical Law

An overview of the "certain funds" and cash confirmation requirements set out in the City Code on Takeovers and Mergers (also known as the Takeover Code or Code). The note outlines which offers the certain funds requirement applies to, pre-conditional offers and matters the bidder and its financial adviser must consider in relation to the cash confirmation.

Financing an offer for a public company: the certain funds requirement

Practical Law UK Practice Note 5-370-3957 (Approx. 26 pages)

Financing an offer for a public company: the certain funds requirement

by Practical Law Finance and Richard Spedding and Simon Buckingham, Travers Smith LLP
Maintained • England, Wales
An overview of the "certain funds" and cash confirmation requirements set out in the City Code on Takeovers and Mergers (also known as the Takeover Code or Code). The note outlines which offers the certain funds requirement applies to, pre-conditional offers and matters the bidder and its financial adviser must consider in relation to the cash confirmation.
The Code Committee of the Takeover Panel is seeking views on proposed amendments to, among other things, Rule 21 and Section 3(b) of Appendix 7 relating to the offer timetable. For more information, see Legal update, Takeover Code: consultation on amendments to Rule 21 (restrictions on frustrating action).