The UK Takeover Panel’s Guidance on “Stub Equity” In Take-Private Transactions
JD Supra: Mergers
JULY 11, 2025
On 3 July 2025, the UK Takeover Panel (Panel) published a new Practice Statement 36 (PS 36), which provides formal guidance on how the Panel will interpret and apply the Takeover Code to an “unlisted share alternative” (known as stub equity) in the context of a take-private transaction of a UK public company.
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