First closing date - The first closing date is one of the milestones in the process by which one company takes over another.Takeover bids involving companies quoted on the London Stock Exchange are governed by a code laid down by the City"s Panel on Takeovers and Mergers. One of the most important functions of the code is to set a timetable for the bid which the parties have to stick to.Once a bid has been launched, the bidding company has 28 days to send its offer document to the target company, and then the offer has to be left open for a minimum of 21 days. That point is the first closing date.
First closing date : the first closing date is one of the milestones in the process by which one company takes over another.takeover bids involving companies quoted on the london stock exchange are governed by a code laid down by the city"s panel on takeovers and mergers. one of the most important functions of the code is to set a timetable for the bid which the parties have to stick to.once a bid has been launched, the bidding company has 28 days to send its offer document to the target company, and then the offer has to be left open for a minimum of 21 days. that point is the first closing date.
First closing date