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  • Restrictions on Dealings by a Competing Offeror

    • TMA-2.20.16

      Except with the consent of the CBB, where two competing offers have been made and one of the offers has lapsed, then neither that offeror nor any person acting in concert with that offeror may acquire any interest in shares in the offeree company at a price higher than that made available under its lapsed offer.

      Amended: October 2019

    • TMA-2.20.17

      Paragraph TMA-2.20.16 shall not apply where each of the competing offers has either been declared unconditional in all respects or has itself lapsed.

      Amended: October 2019

    • TMA-2.20.18

      For the purpose of Paragraph TMA-2.20.16, the price of the lapsed offer shall be calculated as at the day the offer lapsed.

      Amended: October 2019