RE: RNS TR-1 Pentwater Capital Management17 Aug 2022 20:39
It’s the highest share price in the last 12 months.
Under the Takeover Code, when a buyer acquires “control” of a target company it must make a cash offer to all shareholders offering to acquire their shares at the highest price paid in the last 12 months.
The Takeover Code deems “control” of a target to arise when a buyer acquires shares carrying 30% or more of the voting rights.