due diligence.8 Mar 2006 16:27
DGM. If several parties have been pouring over the books since it was first announced, then someone has put their money in the hat and quite happy with the due diligence exercise. The takeover rule 2.5 is a "put up or shut" rule, which meens that The announcement of a frim intention to make an offershould be made only when the offeror has every reason to believe that it can and will continue to be able to implement the offer, I think we are almost at this stage. Look at the takeover panel's web site for rule 2.5 (a), (b)(i)(ii)(iii).