talks announcement


talks announcement
Sometimes referred to as a holding announcement or a possible offer announcement. The announcement of a possible offer under Rule 2.4 of the City Code on Takeovers and Mergers that talks are taking place which may or may not lead to the announcement of an offer or that a potential bidder is considering making an offer. Talks announcements are often made on public to private transactions for tactical reasons and may be required by the Takeover Panel under Rule 2.2 of the City Code on Takeovers and Mergers if, among other things, the target company is the subject of rumour or speculation or if there is an untoward movement in its share price.
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Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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