Schedule 1C, paragraph 18(1)

Rules must ensure that the board of directors of the offeree company must draw up and make public a document setting out its opinion of the takeover bid and the reasons for the opinion, including its views on— the effects of implementation of the takeover bid on all the company’s interests and specifically employment, and the offeror’s strategic plans for the offeree company and their likely repercussions on employment and the locations of the company’s places of business as set out in the offer document in accordance with paragraph 12(4)(k).

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Source: legislation.gov.uk · retrieved 2026-09-04