Section 977(1)

Where a takeover offer is made and, during the period beginning with the date of the offer and ending when the offer can no longer be accepted, the offeror— those shares are treated for the purposes of this Chapter as excluded from those to which the offer relates. acquires or unconditionally contracts to acquire any of the shares to which the offer relates, but does not do so by virtue of acceptances of the offer,

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