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  • Pre-Condition in Firm Offer Announcements and Offer Conditions

    • TMA-3.3.8

      An offer must not normally be subject to conditions or pre-conditions which depend solely on subjective judgements by the directors of the offeror or of the offeree company (as the case may be) or the fulfillment of which is in their hands.

      Amended: October 2019

    • TMA-3.3.9

      The CBB may be prepared to accept an element of subjectivity in certain circumstances especially in cases involving official authorisations or regulatory clearances, the granting of which may be subject to additional material obligations for the offeror or the offeree company (as the case may be).

      Amended: October 2019

    • TMA-3.3.10

      [This Paragraph was deleted in October 2019].