Chapter 5: Fundamental Transactions and Takeover Regulations
Part B: General rules respecting negotiations and offers
R94: Consensual negotiations
- (1) If a potential offeror and a regulated company are negotiating on a consensual basis-
- (a) an offer in good faith must be regarded as being imminent; and
- (b) section 126 applies to the regulated company from the beginning of those negotiations.
- (2) Until a firm intention announcement is published, a regulated company that is the subject of rumour, speculation or a cautionary announcement published by a potential offeror, may presume that an offer in good faith is not imminent, unless the regulated company is consensually negotiating with a potential offeror.
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