In the context of UK takeovers, Day 39 is defined in the Takeover Code as the 21^st day prior to Day 60. Day 39 is the last day for the publication of material new information by the target, such as trading results, profit forecasts, dividend forecasts, asset valuations, quantified financial benefits statements and proposals for dividend payments or for any material acquisition or disposal.

For further information, see Practice note, The offer timetable: Day 39: Last date for new information from the target.