Schedule 1C, paragraph 8(1)

For the purposes of paragraph 7, “the equitable price” is the highest price paid for the same securities by the offeror, or by persons acting in concert with the offeror, over a period, determined by rules, of not less than 6 and not more than 12 months before the mandatory takeover bid is announced.

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