City Code on Takeovers and Mergers

The City Code on Takeovers and Mergers, often referred to as the Takeover Code, is a set of regulations in the UK aimed at ensuring fair treatment of shareholders during takeover bids. It establishes rules for how companies must conduct themselves when seeking to acquire another company, including transparency in communication, obligations to make fair offers, and guidelines for the timing of announcements. Its primary goal is to promote fairness and accountability, protecting the interests of shareholders and ensuring that they receive adequate information to make informed decisions about their investments during a takeover.